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Applying For A Credit Card With No Credit History
Oddly enough, not only will bad credit work against you when applying for a loan or a credit card, but no credit will too. Even though this doesn't seem fair, it is the way things work in the complicated world of consumer credit. Lenders are leery...
Bad Credit Loans: How To Get Up to $15,000 Even With Past Credit Problems
Access Loan and Credit Data are offering $15,000 cash loans within 30 days, even to those with credit problems in the past or present. "The reason we are doing this is because we know that many of you have been hurt by companies that make...
Fast Bad Credit
"Often, bad credit puts one in a financial quicksand. It is hard to come out of and unless you have a good plan in place, you will see yourself drowning. You have one sure shot option though - avail of the bad credit loans through Vipcredit.com....
How to Eliminate Credit Card Refunds from 'Digital Thieves'
Can you encounter the number of times where a Credit Card Sale was generated, only to receive a "Refund Notification" from your contracted e-commerce processor on behalf the "customer"?
Welcome to the electronic world of "cyber-shoplifting"....
Stop Think and Listen when Repairing Credit
One of the best tools for repairing credit is to stop, think,
and listen. If you are in debt, you need to stop and think about
your situation and stay alert to the activities on your credit
report. In this article, we are going to examine...
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Credit Card Debt – Watch Your Credit Report and Your Bill
Most consumers are aware of the importance of their credit report. This document, offered to consumers and lenders by the three major credit bureaus, offers a fairly complete list of financial transactions and debts incurred by a consumer. Lenders examine the report, along with the associated FICO score, to determine whether a consumer is worthy of receiving additional credit or loans. What many consumers may not know is that credit card companies regularly check their credit reports, and unfavorable entries may result in a higher interest rate on their credit cards.
We have previously noted that many credit card companies employ something known as a “universal default clause” in their terms of service. This clause allows the company to raise interest rates on the customer’s card if the customer pays bills late. A late payment to the phone company could result in a higher interest rate on the Visa card. Most companies also allow themselves the latitude to raise their customers’ interest rates for any reason at all. With this in mind, the credit card companies tend to run occasional credit checks on their customers, often raising rates if they notice any activity that, in their opinion, makes the customer a higher risk. This might happen even if the customer has a history of paying his or her credit card bills on time.
The sorts of
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High-Tech 'Band-Aids' Call Doctors
A new generation of wireless medical sensors mounted on an adhesive strip can call a doctor and transmit key data when they detect a problem. But federal regulators, who want to make sure the technology is safe, have yet to iron out regulations for these devices.
things that may create a “risky” client include taking out additional loans, additional credit cards, or building balances on existing cards to at or near their limits. The companies justify this activity by saying that consumers who do these things create greater risk for the lender, and these costs must be passed on to all of their customers. The problem for the customer is that these higher interest rates are often assigned without warning. The new rate applies to existing balances, too. An interest rate hike today could mean that the television you bought last fall has suddenly become more expensive.
What can consumers do? Keep an eye on your credit card bill and your credit report. You can receive a copy of your credit report, for free, at http://www.annualcreditreport.com. As for your credit card bill, watch the interest rate. If it abruptly changes to a higher rate, call your credit card issuer and ask them about it. They will often reduce the rate if you call and complain. If not, your only option may be to shop around for another card.
About the Author
©Copyright 2005 by Retro Marketing. Charles Essmeier is the owner of Retro Marketing, a firm devoted to informational Websites, including End-Your-Debt.com, a site devoted to establishing credit, debt consolidation and credit counseling.
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