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  • credit FAQ


    my dad said the same thing when I was 17, and he helped me (cosigned) to get a credit card to "establish credit". Now I am 21 and after 4 years of charging crap I'm F*cked. your dad is right you will need to build credit, but I would suggest


    apply for any credit and if you can get it keep it paid on time without late payments and your credit will always improve to where you can get more credit


    try target, babies r us, khols, robinsons may, any store that you shop at frequently enough. Try to get one with a lower intrest rate though


    Go to Macy's


    If you carry balances on your credit cards of more than 30% of your limit (debt to limit ratio), you hurt your score. Pay off the balance and your score rebounds. If you pay your balance in full every month, this makes no difference.

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    credit news

    Greek Credit Downgraded Even With Bailout

    23.02.12 Fitch said Wednesday it has cut Greece two notches (from CCC to C), pushing the credit standing for the Athens government deeper into junk status. The ratings company took the action after Greece earlier this week secured a new $172 billion international bailout and negotiated a $142 billion writeoff of the debt it owes large financial institutions. While Greece has reached a general agreement on elimination of more than half the debt its owes private creditors, it must now negotiate the specific terms of the writedown with individual banks and other investors. Greek officials say that when about two-thirds of its lenders agree to cut the amount the are owed, they will impose the same debt reduction involuntarily on its remaining lenders. The head of the EU delegation to the United States, Ambassador Joao Vale de Almeida, told VOA in an exclusive interview that the bloc has learned a lot from the crisis, namely the need for a mechanism to deal with emergency situations, an improved level of economic governance and solidarity among all members of the 17-nation bloc that uses the euro. "I think we learned a lot. We learned a lot about the means that we need to have to deal with emergency situations," said the ambassador.  "We didn't have them before. We created, we developed them to deal with the cases like Greece and a few other countries."


    Source: Voice of America

    Credit Card Disclosures: Effective or Not?

    23.02.12

     

    Do credit card disclosures influence consumers’ financial behavior? And if so, do they influence it for the better or the worse?

    Both, a new study finds.

    Today the Consumer Financial Protection Bureau meets to discuss the credit card marketplace, a year after the effective date of many of the provisions of the Credit Card Accountability Responsibility and Disclosure Act (“CARD Act”). Those provisions include a requirement that lenders disclose to consumers on their monthly statements the difference in cost between making the minimum payment due, versus some higher amount.


    Source: ABC News (blog)

    U.S. Credit Card Delinquencies May Be On The Rise

    23.02.12

    (RTTNews.com) - U.S. consumers may be getting back to their pre-recession habit of spending more than they can afford, according to the latest figures from credit trend data provider TransUnion LLC.

    The Chicago, Illinois-based company noted that national credit card delinquencies for the fourth quarter declined 5 percent from last year in the U.S., but grew 10 percent sequentially from the third quarter.


    Source: NASDAQ

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    Trump Takes Credit, and Many Bows, in New Hampshire

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    Credit Card Penalties May Jump to 30 Percent for Bank of America Customers

    Jack Dorsey's Square lands strategic investment from credit card giant Visa
    Jack Dorsey's Square lands strategic investment from credit card giant Visa

    Apple Takes Credit For 'Uncovering' Its Patented Location 'Bug' That Isn't ...


    STREET MOVES: Deutsche Bank Adds Pair In Investment-Grade Credit Trading