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Credit card fraud gets bigger

2012-01-25T17:33:00.000-08:00

The love for expensive goods and a good life drove BPO employee Arti Gupta and her companion Neelabh Shankar to take a shortcut to get rich. Gupta, an ex-employee of Convergys in DLF City in Gurgaon, is accused of stealing credit card details of foreign clients and using them to shop online for goods worth more than Rs 10 lakh.

The 24-year-old was arrested on Tuesday night and released on bail later. She worked as senior technical support officer with Convergys and was sacked five months back.

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Bank of America, Big Banks Face Massive Credit Card Case

2012-01-12T18:28:00.000-08:00

In the past, consumers who had concerns about charges or fees that had been added to their credit card accounts were able to take their lenders to court to dispute them. But thanks to a new ruling from the U.S. Supreme Court, this is typically no longer the case.

The U.S. Supreme Court recently ruled 8 to 1 against consumers’ right to take their credit lenders to court over disputed charges and fees added to their accounts, according to court documents. Instead, they will now almost always be required to take their claims to an arbitrator instead.

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Paying off credit card debt is key in becoming financially fit

2012-01-10T22:55:00.000-08:00

RALEIGH, N.C. — Getting physically fit is always a popular choice when people start coming up with New Year's Resolutions, but getting financially fit usually isn't too far behind.

For many, that means getting rid of credit card debt.

According to CreditCards.com, the average credit card debt for households that have at least one card is $15,799.

A simple calculation of the interest on that number might be motivation enough to pay off the debt fast, but money experts have some specific suggestions on doing it the right way.

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Low credit score? Go for FD-backed credit cards

2011-12-19T06:09:00.000-08:00

Has a bank rejected your credit card application because of a low credit score? Or, have you avoided taking a credit card due to high interest rates? Now, you can try out security-backed credit cards or a credit card issued against fixed deposits (FDs).

Options: Credit card companies such as ICICI Bank, SBI Cards and Axis Bank offer these products to its customers.

“This scheme was rolled out to bring down high delinquency (non-performing loans) rates. It is a win-win situation for both banks as well as the customers. While banks can ensure low default rates due to collateral of FDs, customers who were not eligible before for a credit card, can now get one,” said an official of ICICI Bank.

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Man accused of stealing grandmother's credit cards

2011-12-16T00:09:00.000-08:00

SOLDOTNA, Alaska—A California man has been arrested in connection with the theft of his grandmother's credit cards.

The Peninsula Clarion ( http://bit.ly/vA1anx) says Soldotna police arrested 29-year-old Jeffery Scott Colombero of Redding, Calif., for allegedly making purchases on stolen credit cards. He is facing various felonies, including theft.
The Peninsula Clarion says Karen Colombero of Mt. Shasta, Calif., told authorities that her grandson stayed at her home for a few days in early November and her credit cards were taken during that time.

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UGA doctoral student sentenced for credit card fraud

2011-12-13T00:10:00.000-08:00

KNOXVILLE — A doctoral student at the University of Georgia has been sentenced in Knoxville to about six years in prison for his role in an identity theft and credit card fraud conspiracy.

Federal prosecutors said 25-year-old Carlton A. Lewis of Lithonia provided credit and debit card skimming devices to waitresses in restaurants across the Southeast who used them to unlawfully obtain credit and debit card account information.

Prosecutors said he uploaded the account information to his computer and used a re-encoding device to transform prepaid money cards into counterfeit credit and debit cards, which were used to make purchases at retail stores.

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Will Credit Cards be Safer in 2012?

2011-11-29T07:54:00.000-08:00

Stealing credit card numbers is a crazy way to make a living, and we've certainly seen more than a few crazies showing up on police blotters lately. You might have heard about the thief who used a stolen credit card account to purchase the same meal at Burger King every day for almost a month. Or the master criminals who ran their budding enterprise from a hotel room they rented with a stolen credit card. Or the clever outlaw who operated a sophisticated credit card fraud scheme from his jail cell.

Sadly, not all credit card fraud stories end with a punch line, or even a conviction. Credit card fraud affects everyone, from merchants that cover the cost of chargebacks to public figures such as U.S. Senator Daniel Inouye. His account information ended up in the hands of a Georgia woman who used it to buy $12,000 in Walmart gift cards.

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A 5 Dollar Monthly Charge On Debit Cards Ruffled Feathers

2011-11-09T21:55:00.000-08:00

The banking sector is the most technologically revolutionized today. Carrying cash just to make a purchase can now be viewed as unfashionable, thanks to the introduction of cards like the debit card. The money in plastic form is not only efficient, but also safe.

The main difference between debit cards and credit cards is that instead of extending credit via the card, banks allow purchases up to the amount of money in your checking account. The convenience of it all is a very alluring and almost essential in everyday life. However, a charge was introduced that would’ve made the usage of the debit cards expensive; the convenience of having cash in the form of plastic would’ve come with a price.

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3 Ways a Credit Card Gets Better Holiday Deals

2011-10-25T20:31:00.000-07:00

NEW YORK (MainStreet) -- Sure, hiding your credit card is one way to keep yourself from falling into debt, but consumers with a solid credit history shouldn't necessarily put away the plastic until January. In fact, there are several reasons a credit card should be your payment method of choice this holiday shopping season. We looked at the ways your credit cards can help you save on gifts this year.

1. You can earn ample rewards.
Credit cards generally offer consumers anywhere from 1% to 5% cash back on purchases, and thanks to the nation's credit crunch and the Fed's new cap on debit card swipe fees, rewards programs have gotten much more lucrative. Popular rewards cards with no annual fees, such as the JPMorgan Chase(JPM_) Chase Freedom and the Discover Financial(DFS_) Discover More Card, are offering 5% back on all department store purchases made between October and December.

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YOUR CREDIT RESOURCE: Advice on what to look for in a credit counseling agency

2011-10-23T19:17:00.000-07:00

Q: I'm thinking of going to a credit counseling agency for help with my finances. But I heard an ad on the radio from a debt settlement company telling people to avoid credit counseling agencies, because they are paid by credit card companies. Is that true?

A: Debt settlement, debt negotiation and credit counseling are lumped into the debt-relief industry, but the way each of these types of companies does business is very different. They all provide services to financially distressed consumers and therefore, they compete with each other. Debt settlement and debt negation companies are primarily for-profit. Most credit counseling agencies are nonprofit.

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Credit-Card Issuers Vie for Risky Business—Subprime Borrowers

2011-10-17T20:53:00.000-07:00

Credit-card issuers, looking for ways to expand their business amid stiff competition, are knocking on familiar if potentially troublesome doors: those of subprime borrowers.

Banks issued 5.4 million new credit cards to borrowers with less-than-pristine credit through June. That's up 64% from a year earlier, according to recent data from credit bureau Equifax, which defines a subprime borrower as having an origination risk score—a proprietary measure—of less than 660.

While the number of subprime cards issued this year pales next to the 14.7 million that banks issued in the first half of 2007, their growth outpaced the 27% year-over-year increase in total credit cards issued through June of this year.

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Why Reduced Credit Card Delinquency Is Bad News

2011-10-16T19:27:00.000-07:00

New data from the American Bankers Association shows that the rates of late payments for most categories of consumer loans are creeping up. In the aggregate, nine of 11 different loan categories showed increases in nonpayment rates. One significant outlier: credit cards, where the rate of 30-day-late or delinquent payments dropped a small amount, from 3.4 percent to 3.2 percent. Experts say that’s very bad news. Want to know why? “One new trend is that people are paying their credit card payments on time each month, even if that means missing their mortgage payment,” Mechel Glass, director of education for credit counseling organization CredAbility, says via email. “Some people utilize those credit cards to pay daily expenses that should fit within their budget, but it doesn’t due to a variety of reasons such as reduce income or underemployment.”

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City cancels five credit card rings

2011-10-14T00:53:00.000-07:00

“This is by far the largest — and certainly among the most sophisticated — identity theft/credit card fraud cases that law enforcement has come across,” Brown said. The group is believed to be responsible for the theft of $13 million over 16 months.

Search warrants executed last week at 15 locations throughout New York City and Long Island allegedly netted $650,000 in cash, seven handguns, a box truck full of electronic equipment, shoes, watches, computers, card readers and embossers, and raw materials for manufacturing forged credit cards and fake identifications.

Brown said the investigation, called Operation Swiper, began in October 2009 with an investigation by the NYPD’s Identity Theft Squad and his own office’s Economic Crimes Bureau.

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3 ways Steve Jobs transformed the credit card industry

2011-10-10T19:44:00.000-07:00

Steve Jobs transformed the credit card industry. That's my argument, and I'm going to stick with it. True, if you look hard enough, and judging from all of the tweets, Facebook status updates, trade magazine articles, newspaper stories and television pieces in the last 48 hours, you could probably reasonably make the argument that the late founder of Apple had a profound effect on tube socks and dental hygiene.

Luckily, I don't have to flex my creative muscles too hard to think about how Steve Jobs changed credit cards. While the inventor's relationship to the plastic in our wallet isn't as obvious as how he changed computers, telephones and music, it really isn't as far a leap as you'd think to get from Apple to American Express.

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Accused credit card scammer fights extradition

2011-10-04T23:23:00.000-07:00

A Toronto man accused of defrauding 30,000 Americans of about $7-million U.S. in a low-rate credit card scheme for people with poor credit has taken his case to the country’s highest court to avoid being returned to Chicago to stand trial.

Alex Orphanou, a.k.a. Alexos Orphanou, who is in a Toronto jail, was ordered extradited to the U.S. last week by an Ontario Court of Appeal to face a slew of fraud-related offences. He quickly filed a leave to appeal to the Supreme Court of Canada, which will rule if it will hear the case or send the suspect packing.

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Why U.S. credit cards fail overseas

2011-09-28T23:01:00.001-07:00

For comedian Dan Nainan, who has traveled to 10 countries already this year, trying to use his U.S. credit cards to buy train tickets in Hong Kong or rent a bike in Toronto was no laughing matter. Each time he swiped his card, the transaction could not be processed.

“The machine has no idea that any country would be so stupid as not to have the same kind of credit card the rest of the world does,” he says. “It’s really, really frustrating.”

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Will consumers be hit with higher prices for credit card purchases?

2011-09-27T01:43:00.000-07:00

The Durbin Amendment to the Dodd-Frank Act was designed to help protect consumers, but may end up resulting in higher costs for making credit card purchases.

The Federal Reserve Board recently capped the amount payment processing networks could charge businesses for accepting debit transactions, but now these networks are likely to boost the fees for credit purchases to make up the lost revenue, according to a report from the consulting firm Ideal Cost. As a result, consumers may face more credit card debt as a result of merchants charging more to accept credit purchases.

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Credit card stocks rally on Google Wallet news

2011-09-25T23:00:00.000-07:00

Shares of credit card networks rallied on Tuesday after Google Inc. announced an expansion of its Wallet mobile payments system.

Google said after markets closed Monday that it was adding Visa, American Express and Discover to its payment system, which aims to make cellphones the next credit cards.

Google said it has licensed the right to add virtual "cards" from the three payment networks to Wallet. MasterCard Inc. is already part of the project.

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Store Credit Cards: Do The Incentives Pay Off?

2011-09-19T07:58:00.000-07:00

Have you ever wondered whether you should have said "yes" when the cashier asked you if you wanted to open a store credit card account and save 10% off your purchase?

While store credit cards fundamentally work just like regular credit cards, they have unique advantages and disadvantages. This article will examine the incentives stores offer with their credit cards, what pitfalls you might encounter if you sign up and whether the payoff could be worth opening an account.

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The 10 Best Airline & Travel Credit Cards

2011-09-14T08:29:00.000-07:00

Here's an updated round-up of the best airline & travel credit card offers featured in Outlaw's deals portal. You can review the full account terms, compare cards, and apply online here. (Some of these even provide you with an approval decision within 60 seconds.)

The 10 Best Travel Credit Cards, mid-September 2011:

1. American Express Premier Rewards Gold Card
Comments: 15,000 bonus points, redeemable for select gift cards valued at $150, when you spend $1,000 in your first three months of card membership; no annual fee for the first year.

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FYI: Bank of America offers cash-back credit cards

2011-09-06T21:32:00.000-07:00

NEW YORK - Bank of America is the latest of the big banks to offer a credit card with a cash back reward that escalates for certain types of shopping.

The details

Customers who get a BankAmericard Cash Rewards Visa card earn cash back on all purchases, but the percentage climbs depending on what they're buying. For most spending, the reward is 1 percent of the price. For grocery store purchases, the reward increases to 2 percent, and for gas, it's 3 percent.

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Police seek man with stolen credit card information

2011-09-02T04:01:00.000-07:00

Boynton Beach Police are searching for a man who used stolen credit card information to buy $127 worth of cigarettes and gas cards from Publix, and investigators need the public's help to identify him.

Surveillance video shows the suspect entering the supermarket on Southeast 18th Avenue about 11:25 a.m. July 30, police said.

The theft victim is a 65-year-old man from Bradenton who still had his credit card during the fraudulent purchase. It's not known how the suspect obtained the victim's credit card information, investigators said.

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Coming Soon: Smarter Credit Cards

2011-08-23T20:25:00.000-07:00

It seems like there's smart everything now -- smartphones, smart tablets, even smart refrigerators that remind you that you're out of milk. But one product remains determinedly low-tech: plastic. Until now. Citibank will soon roll out the Citibank 2G Cards, which feature a chip instead of a magnetic strip.

The Citi 2G: Rewards a button away

This new technology comes with all sorts of advantages: simply by pressing a button, you can choose to pay with debit or credit, or even with rewards. Allowing customers to choose which account to draw from reduces overdraft and encourages responsible spending. And, let's face it, paying with your credit card rewards points and getting something "for free" is infinitely more rewarding than getting a check in the mail.

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What Fed Actions Mean for Your Credit Card

2011-08-18T18:07:00.000-07:00

NEW YORK (LowCards.com) -- The Federal Reserve's announcement it is keeping interest rates at a record low for the next two years -- in hopes extending low rates for a predictable period will stimulate borrowing and spending, providing a spark to the economy -- will have very little effect on lowering your credit card's APR.

In fact, the interest rate on credit cards could continue to rise.

Nearly every credit card in America has a variable rate. The interest rate on a variable rate credit card is made up of two factors:

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BillGuard: A Must-Have For Credit Card Users

2011-08-15T05:33:00.000-07:00

If you use more than one credit card and you have a pulse, you need to sign up for BillGuard.

Last week I met with the company's CEO, Yaron Samid, and CTO Raphael Ouzan in New York.
I was politely skeptical, until about five minutes in when Mr. Samid pulled out his laptop and logged into his own BillGuard account, which had already successfully flagged a fraudulent transaction on one of his cards, saving him money.

The first thought that popped into my mind: "Everyone will sign up for this within the next couple years."

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Visa Profit Beats Estimates as Credit-Card Use Accelerates

2011-08-02T00:40:00.000-07:00

July 27 (Bloomberg) -- Visa Inc., the world’s biggest payments network, said fiscal third-quarter profit rose 40 percent, beating analyst estimates for the 14th straight period, as consumers boosted credit card spending.

Net income for the three months ended June 30 climbed to $1 billion, or $1.43 a share, from $716 million, or 97 cents, in the same period a year earlier, the San Francisco-based company said today in a statement. Adjusted earnings per share, which exclude the revaluation of the firm’s Visa Europe Ltd. put option, was $1.26, three cents better than the average estimate of 30 analysts surveyed by Bloomberg.

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Credit card ‘skimmer’ sought

2011-07-29T00:56:00.000-07:00

NORCROSS — Police are looking for a tech-savvy credit card fraudster who may have stolen financial information from shoppers near The Forum outdoor mall in Norcross.

Norcross police have received two credit card fraud complaints from victims who reported using their cards near The Forum just before fraudulent charges appeared.

Video pulled from various locations indicates the same individual is using the stolen credit card numbers. Other victims have been targeted outside Gwinnett County, said Norcross police Detective Beverly Parnell.

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Your Money: How to avoid credit card problems

2011-07-25T07:52:00.000-07:00

Nothing puts a damper on your vacation like having your credit card rejected.

This can happen even if you always pay your bills on time and are nowhere near your credit limit. Two reasons your credit card may not work:

Suspected fraud
Your credit card company may suspect fraud. The companies use sophisticated software to detect deviations from your normal spending patterns, such as a series of large purchases or transactions in exotic locales.

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Can You Rent a Car Without a Credit Card?

2011-07-21T05:32:00.000-07:00

Dear Credit Card Adviser,
I'm 25 and have never had a credit card. I'm about to travel and figure I need a Visa in order to rent a car. I have plenty in the bank for this trip and a Visa debit card, but I've heard some travel services require a credit card.
What is my best option at this point?
-- Alex

Dear Alex,
If your trip is coming up soon, you may not have time to apply for a credit card and wait for its arrival in the mail. The good news is that you'll most likely be able to use your debit card to initiate the car rental. The bad news is you may need to jump through some extra hoops because you're not using a credit card.

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7 Ways Using Your Credit Card Can Save On Summer Travel Read more: http://www.sfgate.com/cgi-bin/article.cgi?f=/g/a/2011/07/14/investopedia55243.DTL#

2011-07-17T23:28:00.000-07:00

As we reach the height of summer, Americans are getting more and more restless. Increased travel costs due to high oil prices have dampened (or outright destroyed) the travel plans of drivers and airline passengers alike. No matter how you plan to get to your destination, the secret to cutting your costs lies in using your credit cards.

1. Use Cash Back Cards for Gas
Every time gas prices rise, we see a rash of stories on how to save money at the pump. The one piece of advice that is rarely mentioned is probably the easiest way to save on every single tank. By choosing one of the best gas credit cards, drivers can save up to 5% on every fill up. Just be careful to closely note the terms and conditions of each offer as many of these exclude warehouse stores like Costco from their highest discounts.

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Southwest Airlines Credit Card Offers Two Free Round-trip Flights

2011-07-14T00:53:00.000-07:00

Feel bad about missing the British Airways offer for two free round-trip international flights a few months back? Well, here’s a chance to make up for it. Southwest Airlines recently announced a limited-time deal whereby consumers can score two free roundtrip flights simply by opening the Southwest Airlines Credit Card and making a single purchase.

Think that sounds too good to be true? Let’s take a closer look at the terms of this deal and see whether you are really free to move about the country with this credit card.

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Credit Card Debt and Financial Woes in America

2011-07-11T20:01:00.000-07:00

Credit card debt is a major factor in consumer financial distress. Recent statistics show that the number of American cardholders relying on their “plastic” to pay daily expenses is at an all-time high, according to a study by the Federal Reserve.

Analysts say Americans are not only relying on credit cards to pay their bill – there are also more people living from paycheck to paycheck with absolutely no savings tucked away for the future.

A report issued by Georgetown University also shows credit card debt and bankruptcy filings have skyrocketed revealing that consumers are “mired in credit card debt.”

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Consumers make more late credit card payments

2011-07-07T17:15:00.000-07:00

Consumers made more late payments on credit cards and home loans in the first quarter as the economy slowed, the American Bankers Association said Thursday.

Bank card delinquencies rose 12 basis points to 3.4 percent of all accounts, compared to the last three months of 2010. Still delinquencies were down from 3.88 a year earlier. They also were well below the 15-year average of 3.95 percent.

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After Epic Battle, Swipe Fee War Ends In A Draw

2011-07-06T01:23:00.000-07:00

In a down-to-the-wire decision that could affect how much Americans pay for everything from gas to checking accounts, the Federal Reserve announced new rules Wednesday that it will cut the debit card swipe fees that retailers pay in half.

Consumers are unlikely to notice big changes any time soon in the price of things they buy. But over time, the decision could translate into slightly lower costs at the register, and slightly higher costs for bank services like credit cards, checking accounts and prepaid cards.

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Some merchants stop taking credit cards because of high fees

2011-07-03T22:37:00.000-07:00

When you buy something for $100 with a credit card, it costs the merchant about $2 in processing fees. It's unclear why card issuers think they deserve a 2% cut.

Are high credit card fees pricing plastic out of the market?

Some businesses are putting the kibosh on credit cards to avoid paying processing fees that run about 2% of the transaction amount. In other words, every time you buy something for $100 with plastic, it costs the merchant nearly $2 in processing fees.

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Beverly Hills salon owner gets probation for credit card scam

2011-06-29T18:14:00.000-07:00

LOS ANGELES, June 27 (Xinhua) -- A Beverly Hills beauty salon owner was sentenced Monday to five years probation, including nine months house arrest, for lifting credit card information from celebrity clients.

Maria Gabriela Hashemipour, who runs the Beverly Hills beauty salon frequented by celebrity clients including Hollywood actresses Liv Tyler, Jennifer Aniston and Cher, pleaded guilty in January in a Los Angeles federal court to one count of access-device fraud.

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Why Credit Cards?

2011-06-27T22:43:00.000-07:00

I feel that far too many commentators go overboard advocating a "no debt" approach to credit cards.

Yes, credit cards are seductive. And, getting into credit card debt is so very easy. What's more, credit card issuers can be tricky, maximizing profits by tripping people up with hidden or excess fees.

But, the logical conclusion is not to avoid all credit cards and/or debt. There are good reasons for credit cards and for debt. Here are a couple of the headlines:

Debt is not the devil. Excessive debt is the devil. America was built on the use of responsible debt. Entrepreneurs, developers, industrialists -- debt was almost always part of the equation. Debt means risk. Reward and risk are two sides of the same coin.

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A Company Credit Card Can Hurt Your Score

2011-06-21T19:30:00.000-07:00

Flashing a company card at a business lunch feels like you've finally arrived. It also eliminates the burden of carrying business expenses on your own personal credit card. But corporate credit cards can come with a hidden risk: They can tarnish your credit score.

Companies set up corporate card accounts using their own credit histories and issue cards to employees for business expenses and purchases.

Typically, the company pays for the charges on the credit card. If a payment is late, the card issuer goes after only the company. However, a third of companies that use corporate cards make employees liable for payment, putting their credit at risk, according to a 2009 survey from RPMG Research Corporation.

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Ask Liz Weston: What should I do if I have bad credit?

2011-06-21T01:33:00.000-07:00

It’s hard to be an American with bad credit. You may not be able to acquire key components of the American dream -- a house, a car, a credit card. And bad credit can hurt in other ways, too. Some employers check credit ratings before extending job offers. Often, you can still get a loan with bad credit, but you may end up paying exorbitant interest rates.

The next guest on our "Ask a Money Expert" video series, MSN Money columnist Liz Weston, can answer your questions about how to improve your credit and how to get a better deal when you have bad credit.

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Could Your Credit Card Be Sold?

2011-06-19T18:37:00.000-07:00

London-based HSBC Holdings PLC is reportedly trying to sell its U.S. credit card portfolio to focus more on emerging markets. The company isn’t having much luck so far, in part because it’s a big issuer of retail-branded credit cards in the U.S. These cards tend to be accessible to people who have lower credit scores and are more likely to default. They also tend to have low credit limits, which then limit the amount of earning potential an issuing bank can collect.

Banks today are still risk-averse after being burned by sky-high defaults a couple of years ago. Forbes cites a Wall Street Journal report that Capital One is one financial firm kicking the tires of HSBC’s domestic card business. But HSBC’s CEO hasn’t ruled out the possibility of outright shuttering the division.

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When You Apply For A Credit Card, Consider These 5 Tips

2011-06-16T17:28:00.000-07:00

Whether you are applying for your first credit card or your tenth, these five simple tips will help you get the best offer possible (and maximize your chances of getting the application approved):

1. DO state your actual income: 'Inflating' your income to impress a credit card company and get approved for a card that would otherwise be out of your range is not advised, but neither is being 'humble' and reporting less than you actually make -- too low an income will limit your choices. The card company wants to see that you have the ability to repay your debts on time. I had a friend a while ago who didn't include his writing and graphic design income, which was considerable, in his card applications... and then he wondered why no bank would approve him! He was only including his hourly wage-slave earnings.

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Police seek credit card fraud suspect

2011-06-16T01:24:00.000-07:00

VIRGINIA BEACH— Police say two men racked up $10,000 on a women's credit card last month even though it was tucked away in its owner's wallet.

Police say the men copied the women's information and then made a credit card clone. The men used it at several department stores in Virginia Beach and Norfolk. Police hope someone watching the video knows who they are.

"The surveillance video is crystal clear. It's a close-up on the suspects face as they are exiting the doors," says Virginia Beach spokesperson Adam Bernstein.

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5 Surprising Credit Report Errors You Must Fix Read more: http://www.businessinsider.com/5-surprising-credit-report-errors-you-must-fix-2011-6#ixzz1P

2011-06-14T19:16:00.000-07:00

In a recent study, 19 percent of American consumers who reported finding an error in their credit reports opted not to dispute the error, even when they were offered $5 to file the dispute! Why not? Well, some said they thought the error was too minor to impact their score, while others said the dispute process seemed too difficult to tackle.

The fact is, when you’re trying to qualify for a home loan, some of the items on your credit report that can pose a threat to your home finance plans might surprise you. Here are 5 surprising credit report entries you absolutely must fix, especially when you are in the process of buying or refinancing a home.

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Avoid Credit Card Problems When Traveling Overseas

2011-06-13T18:27:00.000-07:00

Most credit cards in Europe have an embedded PIN chip in them, called an EMV card. Almost no American credit cards do. This causes big problems for Americans traveling in Europe but there are a few ways to minimize the hassle.

It's very common to swipe your American credit card over there and have the transaction be denied either because of the system itself or because the cashier doesn't know how to work it. NYT says the best thing to do is carry several credit cards and if one doesn't work, politely ask the merchant to try another one. You may have to try several times.

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5 More Surprising Things That Hurt Your Credit Scores

2011-06-12T19:33:00.000-07:00

When I wrote recently about five surprising things that hurt your credit scores – things like renting a car with a debit card or financing the purchase of furniture – many people were shocked to learn that innocent, everyday actions can wind up blemishing their credit reports.

In reality, though, my initial list of five items represented just the tip of the iceberg.

Unfortunately, due to the quirks of the credit-scoring system, there are a host of other seemingly harmless actions you might take that can lower your FICO credit scores or any credit score, such as the VantageScore.

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Manage your money: Cleaning up your credit report

2011-06-08T23:48:00.000-07:00

(FOX 25 / MyFoxBoston.com) - Trying to get credit these days is becoming more and more of a challenge. While lenders are being tight-fisted about who they give money to, those seeking loans are finding if they don't clear up their credit report, they won't get beyond the application process.
Barry Armstrong, financial planner with Securities America and host of WRKO's "Lunch Money," has more on this.

Steps to cleaning up your credit report:
-- Nearly 80 percent of credit reports contain inaccuracies, this according to a Public Interest Research Group study. Now is the time to start making improvements in your credit report. Remember that your credit report can be checked when you apply for a job, or try to buy insurance. Good credit is important.

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CA Lawmakers Ban Most Employer Credit Checks

2011-06-08T01:09:00.000-07:00

Imagine being unemployed for nine months and finally a job offer comes your way. Great you’re ready to pop the champagne cork. But wait not so fast. First you have to pass a background check. That could mean pulling your credit score. What if it’s not great? Will that affect your chances of getting the final nod?

We all know that our personal credit history affects our ability to secure a home loan or open an account at a department store. But most Americans are unaware that bad credit could cost them a job. Now, Congress and states are stepping up with new protections.

California lawmakers have voted to block employers from using consumer credit reports when they are deciding whether to hire workers for most jobs. May 19, the state Assembly passed AB22 with the bare majority needed, sending it to the Senate.

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For Credit Card Miles, Just Say "Charge It"

2011-06-07T04:51:00.000-07:00

When the first miles-for-charges program was launched in 1985 by Diners Club, it was a novel marketing gimmick, assumed to have niche appeal solely to that most rarefied of consumer segments, the ultra-frequent business traveler. That was Diners' core constituency, so it made sense.

Initial reaction to the first airline-specific card, launched by Continental the following year, was more skeptical. And in 1987, when American introduced the Citibank-issued AAdvantage credit card, not even the most fervent loyalty-program booster would have predicted that it was destined to become one of the world's most widely held cards. (For competitive reasons, airlines and banks are less than forthcoming when it comes to divulging cardholder statistics. American today claims 66 million AAdvantage members, and unofficial estimates are that close to 5 million carry a Citibank AAdvantage credit card.)

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Foreclosure victims not all deadbeats, report says

2011-06-05T20:16:00.000-07:00

Popular wisdom holds that people who lose their homes to foreclosure must be irresponsible deadbeats who can't handle money.

But a new study shows that many homeowners who defaulted on their mortgages during the economic downturn subsequently proved to be responsible consumers and good credit risks.

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Credit Card Application Rejected? 3 Steps to Getting Next One Approved

2011-06-03T09:18:00.000-07:00

There's no doubt about it -- rejection hurts! Especially when you were counting on getting a shiny new credit card to stash in your wallet -- for emergencies, an upcoming vacation or to make a big purchase with low interest.

If you do apply for credit and get turned down, though, don't sink into despair. Instead, know what steps you can take to find out why you were rejected, fix the problem and, eventually, get the plastic you desire.

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4 Reasons To Increase Your Credit Card Limit

2011-05-31T03:59:00.000-07:00

In the current economic pinch, there are lots of solid reasons to get your finances in order. Paying down debt balances and finding lower interest rates help to increase financial stability. It seems contrary to those goals to work on increasing your credit card limits, but doing so can improve your financial situation. Here are four ways that boosting your credit card limit can help you. (Avoid these pitfalls to keep your credit score healthy and your debt under control.

1. It improves your credit score.
It may seem like having lower credit limits would give you a higher credit score but, in fact, the opposite is true. A substantial portion of your credit score relates to the amount of revolving debt you have versus the limit you have available.

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Escape the curse of the holiday credit card hitch

2011-05-29T22:24:00.000-07:00

We've all been there. You're about to pay for your hotel, car hire or family meal overseas when your credit card is declined.

You know the funds are in your account, but it is red faces all round while you scramble to find the cash or an alternative card.

Banks and credit card providers are increasingly blocking card use overseas due to fraud fears. Banks lost £94 million in overseas card fraud last year. But it can be hugely inconvenient for innocent customers.

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4 Tips For Using Credit Cards Overseas

2011-05-26T16:46:00.000-07:00

Tourism is expensive. Why else would cities and countries fight so hard to host events like the Super Bowl, the Final Four, the Olympics and the World Cup? Though these events cost a lot in infrastructure, planning and security, they also boost local economies thanks to increased business at local hotels, restaurants and shops. Thus, whether we realize it or not, a majority of our travel expenses are incurred through transactions with merchants in our destinations. This is true whether you book hotels and day trips before departing or are simply shopping and dining upon arrival. Therefore, you might ask yourself, what is the best way to pay all of these merchants? Is it cash? Is it traveler's checks? Is it a credit card?

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Credit Card spendature sees a decline

2011-05-25T17:10:00.000-07:00

According to statistics, consumers are not signing-up for new credit cards resulting in stores seeing a recorded drop of 21% in sales during March. Even credit card expenditures are down by 8%.

The statistics were made by the Finance and Leasing Association (FLA). Costs are higher so consumers are reticent when it comes to spending, borrowing or paying by credit card.

Fiona Hoyle from the FLA believes that people don’t trust the economy like they used to.

Research made by Halifax showed that common house costs have gone up by 1.4% since 2010. This appears to be bad news because interest rates have remained the same for more than two years.

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App Turns Any iPhone Into Credit Card Reader

2011-05-25T02:11:00.000-07:00

A device that allows anyone with a mobile phone to receive payments from chip-enabled credit or debit cards is to launch in Sweden next month.

The idea, says Jacob de Geer, CEO and co-founder of iZettle, is to empower not only the 20 million small businesses across Europe that only accept cash payments, but to allow anyone with an iPhone to receive payments. Currently smart card readers cost from €200 up. iZettle plans to give away its software and reader, and take a transaction cut.

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Credit card companies could stop spam now, but will they?

2011-05-23T19:32:00.000-07:00

For more than a decade, computer software makers and security experts have tried to stop spam, and failed. It's now 90 percent of all email traffic.
But some University of California researchers may have found the magic bullet : Simply cut off the money.

It turns out that while spammers use thousands of domain names and hundreds of shell companies to peddle Viagra, knockoff handbags and pirated software, almost all sales of those goods are handled by just three banks in Azerbaijan, Latvia and the Caribbean nation of St. Kitts and Nevis.

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Bad Credit Credit Cards
Business Credit Cards

The Evolution Of Credit Card Security

2011-05-22T17:15:00.000-07:00

The world of credit card security comes with an entirely new language. Words like "skimming", "shoulder surfing" and "phishing" may sound less criminal than stealing, but they are, in fact, ways in which money and personal details can be stolen off your credit card. There does not seem to be any definitive global figures on losses from credit card fraud, but a study last year by Aite Group suggested that card fraud costs the U.S. card payments industry about $8.6 billion annually, with the bulk of the losses falling on card issuers. The numbers are staggering, and the cost of fraud will only get worse if the proper technologies are not developed. The main problem the card providers face is keeping one step ahead of the criminals.

Here are some of the anti credit card fraud tools and technologies in place to protect our credit cards, and what basic protection steps we should also be taking.

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Debt and Statute of Limitations – What You Should Know
Bad Credit Credit Cards
secured credit cards

Bankruptcy Not the Worst Thing for Credit

2011-05-19T20:38:00.001-07:00

Dear Bankruptcy Adviser,
I have some questions regarding credit reports and credit scores. Specifically, I am wondering how different types of information on a credit report are interpreted. For example, is a bankruptcy worse for my credit score than late or missed payments on a house? Would slow or missed payments on a car or credit card be viewed the same way as missed house payments?
-- Sue

Dear Sue,
I can't pretend I am a credit score expert. But in my years as an attorney handling bankruptcy law, I have read quite a bit of about credit reports and the impact of different negative events on your credit score, so I feel I can answer your questions. Knowing which paths have the least negative consequences could help you in your effort to obtain credit in the future.

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Reporting Identity Theft Can Pay Dividends

2011-05-18T19:57:00.000-07:00

(NAPSI)—You can help protect yourself and the rest of the country from identity theft, an insidious crime that has silently crept up on unwitting consumers, government entities and privately owned businesses.

As millions of Americans fall victim to identity theft each year, they learn how time consuming it is to recover from such an incident. Often unsure of where to start, the frustrations can seem endless for consumers who seek the path to recovery.

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10 ways to avoid creeping credit card debt

2011-05-17T19:16:00.000-07:00

Over the past decades, U.S. revolving household debt – debt from sources such as credit cards – has gone up and up. Through the 1960s, revolving debt was so unusual that the government did not track it. In 1968, the first year it was tracked, revolving household debt for all U.S. households was $1.3 billion. Today, it's almost $800 billion, and the average household that carries revolving debt owes about $15,000.

The good news? The total U.S. revolving household debt is actually down 17 percent from the all-time high of $973 trillion in fall 2008, just before the Great Recession started.

Yet a new danger arises as people get out of debt. Some people find they have worked hard to get out of debt – or dramatically lower it – only to find themselves back in debt a few years later. How does debt sneak back up on people, and what can you do to keep it at bay? Here are some suggestions to stay out of debt once you get there:

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How to Tame Killer Credit Cards

2011-05-15T16:42:00.000-07:00

“The only reason I made a commercial for American Express was to pay for my American Express Bill!” – Peter Ustinov

When I first saw the quote above by Peter Ustinov (The English Actor, 1921-2004) I started to chuckle, until I realized that he probably wasn’t kidding. Our love/hate relationship with credit cards (love the convenience, available credit, promises of zero percent balance transfers – hate the fees, surprise rate increases, negative credit score consequences) continues like a roller coaster ride with no beginning and no end. American Express can’t be blamed for the credit predicament that so many Americans (Europeans, Australians, Canadians, etc.) find themselves in, but they, like other credit card companies contribute to our communal delinquency–or delinquencies as the case may be. The real culprits of the credit game is the lack of consistency and regulation that leaves even the most credit savvy consumers reading the fine print in bewilderment.

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The hidden cost of credit cards

2011-05-12T12:56:00.000-07:00

Steve Schreter is frustrated about the hidden fee he's forced to pay every time a customer buys merchandise with a credit card.

Unlike debit-card purchases -which cost merchants an average flat rate of 12 cents per transaction -credit card acceptance fees are calculated as a percentage of the purchase price paid to the merchant by the consumer.

"A debit card is very sweet, from the merchant's point of view," the owner of Montreal clothing store J. Schreter Inc. said in an interview. It's easy to understand why Schreter and other merchants are sweet on debit cards. Typical creditcard merchant fees range from 1.5 to three per cent of the purchase price. "Premium" credit-card transactions are even more expensive.

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Debt consolidation companies

Protect your credit card security code

2011-05-11T15:34:00.000-07:00

These days, many of us use a credit card to shop by internet or telephone.

In an effort to ensure that the person carrying out the transaction has a legitimate card, not just a number they have taken from someone else, credit card companies put a security code on each card.

Not surprisingly, getting this security code has become the focus of many scam artists.

On MasterCard and Visa cards, the security code is a three digit number printed on the signature panel.

American Express uses a four-digit security code printed on the front, above your card’s number.

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Guaranteed Approval Credit Cards

Cashing in on little known credit card perks

2011-05-10T17:31:00.000-07:00

TULSA - Sometimes it pays to use credit cards.

We're showing you the high dollar, little known, credit card benefits and how to find them.

If you're like a lot of people, you probably shell out a lot of cash to your credit card company.

So why not make them work for you?

When booking your dream vacation or buying a big ticket item you may get a lot of free perks just by using your credit card rather than your debit card or cash.

Lyndsey Reyes is a credit card customer who didn't know about the perks, "Honestly I had no idea. Kinda cool."

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Bad Credit Credit Cards
Guaranteed Credit Cards

Why pay for a credit report when you can get it for free?

2011-05-03T15:40:00.000-07:00

JEFFERSON CITY, MO. -- As many Americans are strapped for cash credit cards are swiped more and more often.

Debt for some is racking up and credit scores are taking the hit.

There are a lot of ways to get your credit scores and credit report but the reality is that most of them charge hidden fees for their service.

For Sunday's Facebook Story of the Day, KRCG's Meghan Lane found some ways to better monitor your credit for free.

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Credit Cards for Bad Credit
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Credit Card Cos: Who’s Doing What in Mobile Payments?

2011-04-27T20:03:00.000-07:00

Visa is making a strategic investment in mobile payment provider Square, providing the start-up with an undisclosed sum of money as well as a new advisory board member. It’s a nice boost for Square, which is on a roll as it tries to ramp up payments via a smartphone. But it also highlights the growing role of credit card companies as they try to prepare for the growing mobile payments boom.

As more and more transactions flow through a mobile phone, Visa, Mastercard and American Express have been making moves to position themselves in different ways to take advantage of this trend. It’s not just a passing interest for these companies. In many ways, they need to be actively involved in the rise of mobile payments, which can threaten to cut them and their cards out of the process. Here’s a look at what some of the biggest players are doing in the field:

* Unsecured Credit Cards

* Secured Credit Cards

Get Out Of Bad Debt in 2011…

2011-04-26T23:01:00.001-07:00

(ThyBlackMan.com) Are you stuck in a bad debt situation? If yes, don’t feel hopeless. As long as you know the right steps toward credit repair, you can get yourself out of bad debt. This article shows you what to do to get out of debt starting today.

Know your debts. You need to know the exact status of your debts. Begin by ordering a copy of your credit report from the three major credit bureaus. If you haven’t received your free report for this year, you can request for it from http://Annualcreditreport.com.

Once you have credit report, examine it closely. See to it that all information and charges in all your accounts are correct. In case of errors, send a dispute letter to the credit bureau that issued your report. Upon receipt of your letter, the bureau will conduct a 30-day investigation and if your dispute is valid, you will also receive updated copy of your report for free.

Read more Get Out Of Bad Debt in 2011…

* Credit Cards for Bad Credit

5 Smart Ways to Spend Your Tax Refund

2011-04-19T18:01:00.000-07:00

Roughly three quarters of Americans will get a tax refund this year averaging about $3,000. Not a bad payday for most of us!

If you’re going to receive a refund this year, spend it wisely. If visions of shopping sprees have been dancing in your head, I strongly suggest you put those fantasies on hold until you’ve answered the following questions:

1) Have you paid off the balances on your credit card(s)? If you answered no, I can’t emphasize this enough: use your refund to pay off as much of that debt as possible; this is by far the best financial investment you can make. If your card interest rate is 12%, you are in essence guaranteeing a 12% return on your investment. As lame and boring as it might seem to use your refund for this, do it. Now. You’ll be much better off financially.

2) Do you have at least three months of living expenses tucked away?Experts recommend having three to six months worth of living expenses in liquid savings to cover “just-in-case” issues like a major car repair, a medical problem or an unexpected job loss. This “emergency” or “rainy day” fund will protect you from unexpected financial issues. So if you answered no, dump that refund into your savings or money-market account and build up your emergency fund--the peace of mind is worth missing out on the shopping spree.

Read more: 5 Smart Ways to Spend Your Tax Refund

* Credit Cards for People with Bad Credit

http://www.cardtrak.com/news/2011/04/14/how_many_credit_cards_is_too_many

2011-04-14T18:06:00.001-07:00

With all kinds of special promotions available, rewards programs offered, and different store and brand affiliations, it's no wonder people are tempted to add more credit cards to their wallets. From Visa to MasterCard, Discover, and American Express, the choices for credit card issuers and offers go on and on. It can be challenging to select the perfect card for your needs, so sometimes accepting more than one credit card offer gives an easy solution. But when it comes down to it, how many credit cards is too many?

"There are two ways to look at this, depending on your objective," says Gail Cunningham, Vice President of Public Relations at the National Foundation for Credit Counseling. "A person really only needs two general purpose credit cards. One is the card where they charge their everyday purchases and pay off the balance in full at the end of the month. This card could be a rewards type card, but the APR doesn't really matter since they will never carry a balance from month-to-month.

Read more How Many Credit Cards Is Too Many?

Bad Credit Credit Cards

The Truth About Credit Cards & Car Rentals

2011-04-13T20:29:00.001-07:00

Most of us have been told it’s a waste of money to buy the optional insurance coverage when we rent a car. At up to $25 or more per day, it’s definitely not cheap! Furthermore, it has been instilled in us that our credit card or personal auto insurance will have our back if something happens. But can we really count on them?

Not too long ago, through my site Credit Card Forum, I received an email from a man named Harry. He wrote, “I rented a car in Madrid, Spain. In a tight parking garage I scraped the side—net damage about 649 euros." His rental company assured him that his credit card would cover all of the expenses, but then, after he filed the claim, it was denied. The card issuer told him that coverage applies only in the United States.

Read more The Truth About Credit Cards & Car Rentals

Bad Credit Credit Cards

What's the best way to spend your credit card reward points?

2011-04-12T18:19:00.000-07:00

Millions of people who use credit cards earn reward points for every charge they make. In addition to airline tickets, you can get merchandise, hotels , even tickets to the rodeo! What's the best way to spend your points? Consumer Reports Money Adviser says that the best value by far is to get an airline ticket. Consumer Reports Money Adviser calculated the value by comparing the miles you spend to the actual cost of the item.

For instance, the average price of a domestic flight is about $350. That divided by the 25,000 miles it can take to get a ticket, and each mile is worth about 1.4 cents. Even if you have to use 35,000 miles, the value of the mile is still a penny.

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Bad Credit Credit Cards

Card Debtors Study Cites 'Economic Shocks'

2011-04-12T04:18:00.000-07:00

A study released by Demos, a research and advocacy organization, may shed light on why some working families have credit card debt and others don't.

The study, "Understanding the Debt Difference," is based on survey research of 2,248 low- and middle-income adults between April 2008 and August 2008, and contrasts the demographics, financial habits and economic circumstances of those with credit card debt and those without it.

For survey respondents who met the criteria for the "indebted" group, the average amount owed was $9,799, and 52% said they had the same or more debt than three years before. More than half of the indebted households said they had been late or had missed a credit card payment, and 37% were still paying off a credit card they had cancelled.

Read more Card Debtors Study Cites 'Economic Shocks'

Bad Credit Credit Cards

Smartphones: The Credit Cards of the Future

2011-04-06T18:31:00.000-07:00

Like many other wireless companies, Spring Nextel Corp. is planning a program to allow users to make purchases with their mobile phones, reports the Washington Post.

This project would allow users to make purchases using their smartphones by tapping or waving them in front of electronic readers in stores. The purchases would be billed through users’ regular credit card statements. Sprint could share in revenue from sales of coupons or advertising rather than taking a percentage of each transaction.

Read the full article

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Credit Cards for Bad Credit

Federal Reserve Must Face Bank Suit Over Credit Card Fee Rules

2011-04-05T20:39:00.000-07:00

April 5 (Bloomberg) -- Federal Reserve Chairman Ben S. Bernanke lost a bid to end a bank lawsuit challenging the legality of forthcoming rules limiting the amount of money the largest U.S. banks can collect for debit card transactions.

U.S. District Judge Lawrence L. Piersol in Sioux Falls, South Dakota, yesterday denied the U.S. government’s request to throw out the case filed last year by TCF National Bank. He also rejected the bank’s request to block the regulations and allowed the case to move forward while Congress debates the issue.

“People should know where they stand,” the judge said, announcing the ruling after almost three hours of argument over the bank’s claim that the rules, which still aren’t final, are unconstitutionally confiscatory.

Credit cards better than debit cards – sometimes

2011-04-03T20:23:00.000-07:00

Credit cards have been an easy target for Congressional grandstanding and regulations but beneath the widely-criticized rates and fees lie many good benefits that are usually hidden in the fine print. Credit cards can provide valuable purchase protections and insurance that are unmatched by cash and debit cards.

Yet, more consumers are forgoing these benefits and choosing debit cards instead of credit cards for payments. Total payment volume for debit cards surpassed credit-card volume for the first time in 2009 and will continue to expand.

Consumers should understand their payment options before cutting up the credit card. There are times when using a credit card is your best choice for payment, especially for tickets and large purchases. However, insurance and purchase protections vary by card and issuer, so it is a good idea to research these when comparing credit cards.

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Unsecured Credit Cards for Bad Credit

Understanding Bad Credit Card Debt Consolidation

2011-03-13T21:14:00.000-07:00

Bad credit standing and negative financial position are seen to be limiting an individual in availing of a loan. Though there are some cases where the loan is approved, still, the conditions on the loan are modified to match the risk that the company is facing with the individual.

Credit card debt consolidation can be facilitated through guaranteed and unsecured consolidation loans. The former uses the collateral of the home as a guarantee for the loan quantity and this only charges low interest. The latter, on the other hand, does not involve any collateral and charges high interest rates with strict requirements because of the risk involved.

Resources for YOU:

Bad Credit Credit Cards

Credit Cards For Bad Credit - Avoiding the Over Limit Fee Trap

2011-02-24T17:13:00.000-08:00

In order to remain competitive in the world of credit cards for bad credit, banks have expanded and increased their schedule of fees. Though legislation is underway to regulate unfair practices, it still pays for you to understand the terms of your secured card. Falling into the pit of continual over-limit fees can make you a slave to never ending debt.

Killer Over-Limit Fees

If you haven't reviewed the limit on your cards, now may be a good time to do so. Whenever you exceed your limit, most banks ding you with over-limit fees. Unfortunately, like late payment penalties, over-limit fees have steadily increased over the years from under $15 in 1995 to as high as $39 in today's market. Some card issuers even structure their over-limit fees to increase on that portion of your balance exceeding $1,000.

How can I Start Building My Credit History?

2011-02-17T23:57:00.001-08:00

People with no credit history often find it frustrating and very difficult to get approved for credit cards and loans. After all, most lenders and credit organizations today are somewhat hesitant to offer their credit programs to those who do not possess credit.

Despite this fact, you need to persevere and be diligent enough to search for lenders that offer bad credit credit cards and bad credit accounts. Why? This is because you can only launch and successfully build your credit history by applying and getting approved for a certain type of credit or card program.

To help you in your quest of finding and securing a credit card for bad credit or a bad credit loan, we have enumerated several tips that we encourage you to employ. Through them you can be allowed to use a particular credit or card program which will help you attain your goal of establishing your credit profile.

Tips for Consumers who Want to Build Credit History

1.Understand the common requirements of lenders. Since you do not have a credit report to present to a prospective lender, be sure that you are well aware of the other application requirements that you need to submit to your chosen credit company. This way you can increase your likelihood of getting approved for the bad credit loan or bad credit-credit card you are applying for. What are some of these credit requirements? These are:

- A Bank Account. - Some lenders require their applicants to have a checking or savings account. They use your bank account history in evaluating the merits of your bad credit account application. So the way you manage your bank account can have an impact on whether or not you will be approved for a bad credit-credit card or for a loan program.

A Review on Bad Credit Cards

2011-01-17T21:25:00.000-08:00

The recent economic recession has led many companies drastically down suffering huge losses. The result some of the companies are at the brink of closure and some had to lay off their employees. Being put in such a situation, people are not able to repay their loans and credit card bills. This resulted in considerable number of problems regarding credit reports. Not to mention, the general trend of the credit sector was going downhill and credit card companies were forced to offer people services like bad cards to improve their credit rating.

In today's financial world, it is pretty well understood the necessity of having a credit card. There are many reasons, whether good or bad for having plastic in your pocket. These bad credit cards come with many features.

Nowadays, bad ones are easily available because of the continuous offers flashed by the credit card companies. One of them is credit card for bad credit with high limit. People who have the lowest credit rating of 500 have an opportunity to rebuild or repair by having this type of cards.

Know your options with bad credit

2010-09-07T22:24:00.000-07:00

Plenty of people dealing with bad credit are have no real knowledge about the options getting professional advice. The majority are actually too ashamed to discuss the issue with best mates or even close family so they still are not able to come to terms with poor credit ratings.

It is your own responsibility to maintain a great credit report and receive almost all the advantages of low interest credit and the best credit card offers, but what if you don't even distinguish that you have a bad credit rating?

Resources for you: Bad Credit Credit Cards

Credit Cards For Bad Credit - What Are My Options?

2010-09-06T04:14:00.000-07:00

Are there credit cards for bad credit? The answer is yes. If you have been over 30 days late on loan, charge card, or mortgage payments, if you have unpaid medical bills, or if you have legal judgments against you such as child support or other lawsuits, you may have "bad credit". There are many of us who have been unable to keep up with our monthly bills and have fallen behind in the last 12-24 months.

You may be thinking there are no options or bad credit credit cards. That is not true. Access to a credit card is almost required in this age of technology we live in. This increasing need for consumers to make credit card purchases creates the demand for more and more credit cards for bad credit.

Read more Credit Cards For Bad Credit - What Are My Options?

How the New Credit Card Law Affects You

2010-08-24T00:40:00.000-07:00

Laws are created to protect people as well as their interest. Through laws, policies and even simple rules and regulations, we are able to recognize our rights and privileges. We gain a feeling of security especially because we know that the government looks after our welfare.

One of the best examples of rules created to protect the interest of consumers is the new Credit Card Act. What are the provisions of this federal law? How does it influence the lives of credit consumers? And how does it protect the welfare of credit cardholders? To know the answers to these questions, we encourage you to read the succeeding paragraphs of this short article.

What is the New Credit Card Act?

The New Credit Card Act, more formally known as the New Credit Card Accountability, Responsibility , and Disclosure (CARD) Act was implemented on August 20, 2009. This law gives credit cardholders the special privilege of declining drastic changes that card issuers intend to impose on their credit card programs. Why is this important?

* secured credit cards

Best Unsecured Credit Cards For Bad Credit

2010-08-09T17:15:00.000-07:00

When you have bad credit, you may think that it is the end of the world. It isn't! There are so many options that you can take, when you're looking to rebuild your credit. If you're looking for an unsecured credit card for bad credit, I wanted to tell you why it's going to be hard to find one.

When you want a credit card that's not going to require a lot of collateral, or any at all, you're going to find that these card companies are going to want you to have a good credit score, history, as well as payments. If you don't meet any of these, you're going to most likely have to look into a secured credit card.

Why should I consider a secured credit card?

#1 Everyone gets approved - You will find that as long as you supply the deposit, you're going to start building your credit. Just make sure that the card reports to the major bureaus. As long as it does, you will find that you won't have anything to worry about.

Remember, when you give them your deposit, you're going to always have that money, unless you don't pay your bills.

Credit Card Companies That Offer You Bad Credit Credit Cards

2010-07-19T00:19:00.000-07:00

Credit cards come in all types of different packages and no matter who you are, you should be able to find one to suit your needs. As well as the leading credit card companies MasterCard and Visa, there are also smaller companies that offer credit cards for those who have poor credit. So if you are interested in applying for a bad credit credit card then read on to find out about some of the best lenders to apply to.

Some of the Best Bad Credit Credit Card Companies

Credit card lenders are not always fussy about who they lend their cards to. This means that even if you do have a poor credit history, you will still be able to get your hands on a credit card to suit your needs.

bad credit cards

The Credit Card Shoppers and What Awaits Them

2010-06-03T03:19:00.000-07:00

The fact that millions of consumers all over the world are still facing serious debt problems should make each one of us become more aware of our own spending habits. If you own a credit card or two, you should be particularly extra careful in how and where you use the cards you own. Have you paid attention on how you used your credit cards last holiday season?

According to Michelle Jun, Staff Attorney for Consumers Union, "Too many credit cards are designed to get you in debt and keep you there." Surveys conducted by the Consumers Union show that credit card holders are at risk of getting stuck in debts because of soaring interest rates and penalty fees of credit cards. Here are the unwanted elements that you should watch out for from credit cards:

Changes in terms. Read your credit card terms and conditions. Somewhere in the middle or in the end of your contract, you may find a disclosure stating that your credit card issuer has the “right to change terms at any time” they wish. This means, your fixed interest rate can suddenly change into an adjustable-rate or your low annual fee can unexpectedly increase after you’ve signed up for the credit card.

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Credit cards for bad credit

How You Can Benefit from the New Credit Card Law

2010-05-18T02:09:00.000-07:00

The new Credit CARD (Card Accountability, Responsibility and Disclosure) law was approved on May 22, 2009 and since then, modifications has been made to protect consumers and credit cardholders. In this post, let us discuss how consumers can benefit from the changes made:

1. Rules on Credit Card Fees. Credit card companies are now prohibited from imposing additional fees from their cardholders who want to send in payment through telephone banking of through the internet.

2. No Double-cycle Billing. In the past, some credit card issuers use the double-cycle method of billing where the cardholder’s rate of interest is based upon the current and previous balances. Under the new Credit CARD, double-cycle has completely been eliminated.

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How to Avoid Unfair Bad Credit Credit Card Deals

2010-04-15T20:36:00.000-07:00

Those who cannot get approved for a regular credit card can still apply for a bad credit credit card despite having bad credit or no credit history. However, it’s important to understand that not all credit cards for bad credit offer a reasonable deal. Today, let’s talk about how you can find the right credit card for bad credit and how you can avoid unfair deals.

Why Diligence Pays Off

Some consumers may eagerly sign up for a credit card offer without first checking other options. Nevertheless, even though the offer may sound amazing, it is still recommended that you study your choices first before submitting your application.

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Bad Credit Credit Cards - Simple Facts

2010-03-23T19:57:00.000-07:00

These types of programs are especially designed for people that have a poor financial history and do not qualify for a regular card. If you are a young consumer just starting to build credit, or if you have had delinquencies that have damaged your credit history, you probably can still qualify for credit cards for bad credit that are geared to your situation.

Bad Credit Programs

Credit card programs for bad credit are available online with secure applications, First Premier Bank and Orchard Bank are two of the most popular. These programs are often divided into "secured" cards that do need a deposit and sometimes "unsecured" credit cards are available, an unsecured bad credit credit card probably will come with much higher interest rates, sometimes 15 to 30 percent and much higher participation fees.

Getting Credit Cards With Bad Credit

2010-03-02T17:11:00.000-08:00

Needing credit cards for bad credit can be a real pain. It can really take a toll on your life and make you feel like you will never rise above it, that will always be a part of your life and gone are the days of loans, credit cards, and other forms of credit. This does not have to be true. Many companies in the world today understand that sometimes things beyond our control happen and we all need a second chance at rebuilding our lives. This is why some companies are now offering credit cards for bad credit.

These credit cards for bad credit are specific to those who have a tarnished credit history for one reason or another. Your credit score might be low because of bad decisions, loss of employment, reduction in wages, injury, or a host of many other things. However, everyone deserves a second change to prove themselves credit worthy once again. This is where credit cards for bad credit come in handy.

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Credit Cards For Bad Credit - Might Be Helpful

2010-02-23T09:07:00.000-08:00

Applying for and getting credit cards for bad credit can actually end up being quite helpful to consumers if they are used correctly. The following are a couple of great reasons why getting a credit card especially for those with bad credit can be a wise idea.

Credit cards for bad credit can help people keep track of their spending habits. Most credit cards designed for consumers with not so healthy credit send detailed reports of what is being purchased with the credit card. This is really a fantastic way to find out exactly what you are spending your money on each month and then decide what can be cut out. More responsible spending habits are a great practice for consumers no matter what their credit history may be.

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A Guide to Bad Credit Credit Cards

2010-02-18T10:18:00.000-08:00

Having less than perfect credit can hurt you and your financial future. One way to get yourself out of the dark hole of credit is by responsibly using a credit card. If you have bad credit and are looking for a credit card, you may want to stick with the bad credit credit cards. Bad credit credit cards are just like regular credit cards, but they are specifically for high risk cardholders.

Since your credit score is low, you are considered high risk to the credit card companies. Bad credit credit cards should be used responsibly however or your situation will just worsen. If you think there is even a possibility of you defaulting on the card, simply don't even apply. Before applying for bad credit credit cards, be sure to check out the common terms for bad credit credit
cards.

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Improve Poor Credit Rating with Bad Credit Credit Cards

2010-02-16T09:34:00.000-08:00

Credit card companies offer their best deals (low rate, low fees, high credit limit, big rewards) to customers with good or excellent credit history. For those with imperfect credit rating, finding a reasonable deal can prove to be a challenge.

Use a Credit Card to Recover from Bad Credit
It is a relief that you can actually get a good credit card despite having a poor credit rating. Add to this, it can be used to rebuild your damaged credit. Yes, getting approved is easy but don’t forget to spend time comparing your options.

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Getting the Best Credit Card for Bad Credit

2010-02-11T07:46:00.000-08:00

Finding the right credit card for bad credit - one with reasonable fees and conditions is possible through extensive research. In this article, let’s talk about how you can shop around for a bad credit credit card that can truly help you rebuild credit history.

The Hunt for the Right Bad Credit Credit Card
Search the web and you can find a lot of credit card offers for people with poor credit scores. However, most of these cards come with high interest, high fees, and high deposits. Although Issuers of subprime cards understandably charge higher rates and fees than standard cards, you should not settle with a credit card that will put you at greater risk of having bad credit.

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Credit Cards for Bad Credit

How the New Credit Card Law Can Help You

2010-02-08T10:57:00.000-08:00

The New Credit Card Law was signed by President Barack Obama on May 22, 2009. As a credit card holder, you’ll be glad to know that the major changes can help you cut back your costs and stay away from bad credit.

The first batch of changes already took effect last August 2009 while the rest of the provisions will be effective starting February 22, 2010. In this article, let’s talk about the highlights of the new Credit Card Law and how it can affect you:

Controlled Interest Rate Hike. The increase of interest rate will only be allowed under certain conditions: when a promotional rate expires, when the Index Rate rises, and when the cardholder defaults payment for 60 days or more.

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Advantages of the New Credit Card Law

2010-02-05T12:01:00.000-08:00

On May 22,2009 the Credit Card Accountability, Responsibility and Disclosure, or Credit CARD Act of 2009 was passed into a law. Why should you be interested to learn the changes brought about by the New Credit Card Law? Can these changes help cardholders stay out of debt problems?

Let’s take a look at the highlights of the new law and consider the advantages:
No sudden rate increases. In the past years, many cardholders have found themselves stuck in bad debt due to the sudden increase in their interest rates. Missing your deadline with any creditor could mean an increase in your credit card rate even if you’re on time paying off your balances. Thankfully, the dreaded “Universal Default Clause” has now been abolished.

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Bad Credit Credit Cards

Help! - Which Credit Card Should I Get?

2010-02-02T08:41:00.000-08:00

For a first time credit card holder, choosing from hundreds of credit cards in the market can be confusing. If you’ll base your decision from marketing ads alone, it’s easy to be misled since all marketing campaigns highlight only the best that credit cards have to offer. So how do you know which is the right credit card to apply for? Here are comparisons you’ll want to check on before making your final choice:

The rate of APR. The annual percentage rate will be divided in 12 months which will be the interest added to your balance. If you can’t guarantee that you can pay off your monthly balance completely at all times, look for a low APR credit card. This way, even if you have to carry your balance for the next month, the interest will not be too high.

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Credit cards for people with bad credit

Guaranteed Approval Credit Cards for Bad Credit

2010-01-29T23:42:00.000-08:00

You can still get guaranteed approval credit cards for bad credit even though you have poor credit history. Many credit card companies provide credit cards with guaranteed approval for bad credit to help you improve your credit rating and at the same time enjoy the benefits of the credit cards. The limit for credit cards for bad credit varies from company to company. It is generally in the range between $5,000 and $10,000.

Application for bad credit credit cards usually does not require credit check. You are approved regardless of income or credit history. Credit cards for bad credit, however, generally have higher annual interest rates than regular credit cards. This is obviously something you should consider when selecting the best credit card for bad credit. Compare some variables such as enrolment fee, APR, credit limit, and any benefits: emergency cash transfer, extended warranty protection, etc.

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Instant Approval Credit Cards for Bad Credit

2010-01-22T17:48:00.000-08:00

When applying online, most credit card companies offer instant approval. Credit cards for bad credit are designed for people who are unable to qualify for a regular credit card due to their bad credit history. Days are gone when a bad credit rating on a credit report prevented you from obtaining a credit card.

Today, you need to have a credit card for all purchases and transactions. If you have a bad credit rating, you would probably be attracted to marketing strategies, such as ‘credit cards with bad debt’ and ‘credit card for bad credit history,’ etc.

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Bad Credit Credit Cards - Useful for Improving Credit Rating

2010-01-18T06:52:00.000-08:00

Credit problems happen to people regardless of circumstances. Although some consumers are irresponsible with credit, others simply fall on hard times. Loss of employment, family problems, and illnesses may have a negative effect on our credit. Fortunately, there are ways to boost credit rating. Bad credit credit cards are intended for people hoping to rebuild their credit history.

Quickly Improve Credit Score with Bad Credit Credit Card

Numerous circumstances justify obtaining a bad credit credit card. If you have filed a recent or past bankruptcy, re-establishing credit is essential. Hence, you can take advantage of bad credit cards. Moreover, individuals with no credit history may get approved for such credit cards.

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Credit Card For Bad Credit Holders

2010-01-13T10:36:00.000-08:00

Our lifestyles today demand that we need a credit card for most transactions and for all the purchases we make. There was a time when a bad credit rating on your credit report prevented you from qualifying for a credit card. Not any more. Credit card for bad credit holders are designed for people who, due to their bad credit history, are unable to get their application for a regular credit card approved. When applying online, or otherwise, most credit card companies would instantly approve your application today.

Instant Approval Bad Credit Credit Cards

In most cases, an instant approval credit card for bad credit holders would be an unsecured credit card. You may not be required to make a down payment, but such unsecured credit cards carry high rates of interest. Over and above that, missed payments on your part may attract severe penalties. However, an unsecured credit card for bad credit holders is a great way to boost your credit rating, provided you use it wisely.

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