Consumers are feeling the pinch of a credit card crisis as card issuers raise rates and restrict credit, reports the New York Times. It’s no news to me. Even readers with excellent credit are telling me Bank of America is raising APRs and American … [Read more...]
What Kind of Credit Do You Need to Get a Credit Card Today?
October 29, 2008 By
In today's article Survive the Credit Card Crisis I talk about how credit card companies are approving fewer and fewer credit card applications. It is still possible, however, for consumers with decent credit to get new credit cards with good … [Read more...]
Peer-to-Peer Lending Hits a Roadblock
October 27, 2008 By
Update: Since writing this post, both LendingClub and Prosper are registered with the SEC and running fully for both borrowers and lenders. Two years ago I wrote several articles about peer-to-peer lender Prosper and the debt consolidation loan I … [Read more...]
Charge Cards: A Smart Alternative to Credit (And Debit) Cards
October 6, 2008 By
For many years, I used an American Express charge card—not a debit card, credit card, or cash—for 95 percent of my purchases. Today, my wife still uses an Amex Premier Rewards Gold Card for most of her personal purchases. AMEX CHARGE CARDS … [Read more...]
Q&A: Will My Credit Score Go Down if a Credit Card Company Closes My Account for Non-use?
October 3, 2008 By
Leticia asks: I received a letter from a credit card company saying that since I have not used their credit card for over a year they will be closing my account. I have had the card for over five years and kept in good standing, but have used other … [Read more...]
Unembossed Visa Cards Coming to a Wallet Near You
September 24, 2008 By
What's a credit or debit card without bumpy account numbers? We'll soon find out. Visa has announced that unembossed cards are now available in the U.S. following successful testing. The raised account name and numbers on existing credit and debit … [Read more...]
Q&A: Can I Avoid Falsifying My Income on a Credit Application When I’m Temporarily Unemployed?
September 15, 2008 By
Brittany writes: I am an ’07 grad with a great credit history. I have a $4,900 credit card balance on a 9.99% APR card. I am considering transferring the balance to a new credit card which offers 0% for 12 months and a low fixed regular APR. My … [Read more...]
Q&A: What kind of credit score do I need to get approved for a balance transfer credit card?
September 10, 2008 By
Pam asks: Three years ago I racked up debts on several credit cards. I paid those cards off and closed them. Today, my only card has a 19% APR and no rewards. My credit score is only about 600 because I was (quite) late a few times. Today, I am debt … [Read more...]
His Credit’s Good, Hers is Bad: Can You Get a Mortgage Anyway?
September 8, 2008 By
Ready to buy a home with the one you love? Got good credit? What about your sweetheart? If not, getting a mortgage may be difficult, not to mention a strain on your relationship. First, you must understand how mortgage lenders view joint mortgage … [Read more...]
Zopa Loans Redefines Personal Loans Using Social Finance
September 5, 2008 By
Oct. 27, 2008 -- Unfortunately, Zopa Loans---a UK company---has stopped lending operations in the U.S. due to the tightening credit market. While they will continue to service existing loans, new loan inquiries are being directed to U.S.A. Federal … [Read more...]
I'm David Weliver. At 26, I had NO savings and NO financial plan. I was maxed out, stressed out, and fed up. Then, I changed. I repaid $80k of debt, tripled my income, and bought a home. I'll show you how to get similar results. 