Credit card offers start pouring into the mailbox for consumers at a relatively young age. Most high school graduates will begin receiving such offers before leaving home for college and many more will get offers and promotional materials while in college. The promotionals may seem like a great deal but for most of the recipients, they do not yet know how credit even works. Without a solid knowledge-base of credit, students can be facing a life-long battle with debt and other financial difficulties.
Here are 6 things college kids need to know about credit cards:
Introducing Your Own Credit Report – Opening a credit card account will also likely be the start of your credit report. As many teens can’t wait … (more) April 23, 2009

Posted in Choosing Credit Cards, Credit Card Tips, Debt Consolidation, Promotional Offers, Report and Score, Student Credit Cards Comments Off

Adding insult to injury as you try to get out from under debt, scammers who take advantage of your financial vulnerabilities can make your strides towards a debt free life even more difficult if you fall for their tricks. As more people are turning towards third-parties for assistance with their finances, there are more consumers who are being taken by con artists who are only interested in money.
While consumers have the best intentions when seeking outside help, many do not do the proper planning or research needed to ensure they are dealing with an above-board company. They fail to check the histories of so-called credit counselors in their rush to find debt freedom. But not doing their due-diligence can quickly … (more) April 14, 2009

Posted in Debt Consolidation, Money Saving Tips Comments Off

Seems like the current economy problems are here to stay for good. Well, for some months, at least. And it is not just credit card companies and bank that suffer enormous losses due to delinquencies. Many American households in these trying times are struggling to make ends meets. A stream of easy credit that millions of American families came to depend on, now barely exists. Lots of households just lost a sufficient source of financing.
There’s a friend of mine, Dylan. He is an engineer in Silicon Valley. He seems to have it all – a beautiful wife Emily, who is a top manager at a big company, two cute kids, a house they bought, 2 cars and a dog. The … (more) December 3, 2008

Posted in Credit Card Advice, Debt Consolidation, Money Saving Tips Comments Off

The economy recession that America is trying to overcome at the moment triggered credit and banking crisis, the loss of equity in housing, dropped corporate earnings. All this quite predictably causes mass layoffs in several industries. Even the most seem to be “recession proof” sectors have to cut significant amounts of the positions.
Auto and airline industries were the first to feel the consequences of the crisis after the inflation in fuel and other energy costs. But nearly no industry managed to walk away from the recession. Daimler Chrysler, Pepsi, Coca-Cola, Phillips, Supervalu, Starbucks, Yahoo, General Electric, Xerox, Bank of America, Citigroup, numerous airlines – a short list of corporations that have to lay off their workers.
The current unemployment rate has … (more) October 27, 2008

Posted in Credit Card General, Debt Consolidation Comments Off

Nearly all US credit card holders have a credit card debt. And sometimes this debt becomes a bad headache for credit consumers. All those interest rates, fees, due dates make it really difficult to pay off your outstanding balance in full. Getting a balance transfer card with favorable terms and 0% intro APR rate is a good way to eliminate your debt faster and easier. That is the most widespread financial experts’ advice when it comes to paying off your credit card debt.
But the thing is that all balance transfer cards with good terms are available for customers with good or excellent credit. And what if your credit rating is not high enough to qualify for a balance transfer card? … (more) June 27, 2008

Posted in Balance Transfer, Debt Consolidation 4 Comments »

A financially stable, two-parent family can afford raising children. But what if you are a single mother with low income? You can still make it through. But if being a stay-at-home mother is your full-time job? At least for some period, during the first year, when your baby needs you around 24/7?
Ok. Child social support payments and unemployment benefits can help you. But this money will barely be enough to cover all your bills and credit card payments. So, what do you do with your credit card balances? You just set your priorities and try to provide your baby with all the necessary. And credit cards can wait.
So, your baby already walks and makes attempts to say his or her … (more) June 3, 2008

Posted in Debt Consolidation 3 Comments »