Bad credit is no longer a problem while issuing a credit card
If your credit is not in a good shape, it won’t be that easy for you to issue a credit card. However, if you take the harder way around, you can soon boost your credit score and manage to issue a regular credit card in the near future. Read on to know the gradual steps which can help you secure a credit card even with bad credit rating. If excessive debt are the reasons behind your poor credit rating,... [Read more]
Free (or not so free) Credit Report
How does FreeCreditReport.com define “Free?” At first glance of their web site you might say $1.00. That won’t break the bank but still does not fit the definition of “free” that I learned in elementary school. $19.95 per month is their bottom line definition of free which totals $230.40 per year for a monitoring service of your credit. It is true they will send you... [Read more]
How to stop email credit card offers
Email has revolutionized the way we communicate…but it’s not without it’s drawbacks. . . SPAM – need I say more? You’ve applied online for a credit card. Excited to find out if you are approved for the card, you frequently check your emails. Every time you check your email, though, it seems that another credit card offer pops up in your inbox. It doesn’t take... [Read more]
Q&A: My credit card company is not following the new credit rules. How do I file a credit card complaint with the new Consumer Financial Credit Bureau (CFCB)?
Many of the rules are just now being implemented, although some lenders have been doing this for months. These are the steps to follow if you feel the new credit card rules, (or any credit card rules for that matter) are not being implemented correctly: Check with the credit card issuer first to see if you can resolve it on your own. There’s a good possibility this might take care of the problem. If... [Read more]
3 Ways to add a 100 Word Statement to your Credit Report
How to add a 100 Word Statement to your Credit Report Online: Experian,TransUnion and Equifax all give consumers the ability to add these statements online. Mail: Prepare the statements and mail them out to each of the three major credit unions. Phone: No, you cannot dictate your statement to a customer service representative, but you can certainly call if you have any questions. For... [Read more]
To State or not To State…
So, should I or should I not add a 100 Word Statement to my credit report? The answer depends on two factors: How bad is your credit? How bad do you need the loan? If you have marginally bad credit resulting from a couple of late payments, I would advise against adding the 100 Word Statement. Just keep making your payments on time. Try to pay some credit cards off over the next few months and... [Read more]
100 Word Statement = A Credit Report Tweet?
There has been much debate in recent years as to the effectiveness of “100 Word Statements” for consumers. Before I give my two cents on the subject, let me answer the first question you probably have: What is a 100 Word Statement? Back in the 70s, the FCRA (Fair Credit Reporting Act) decided to allow Americans to add a short statement to their credit report explaining away any disputes or... [Read more]
Credit Rejected Consumers Now Able to Get Scores
Consumers who get turned down for credit cards, mortgages or other loans, or who can’t qualify for the best interest rates, can shortly get a free credit report as part of the rejection process. Consumers were already able to get a free credit report, but this now goes several steps further including: 1) They will receive their credit score. In the past they were only able to get a credit report. 2)... [Read more]
Top Ten Credit Card Companies for Consumers with Bad Credit
You have bad credit and you need a credit card… But companies don’t give credit cards for bad credit, right? WRONG. Credit card companies are in business to make money, and they make millions off of people who have bad credit, just like you. In fact, they depend on you. Think about it this way…if everyone had perfect credit and paid off their credit cards every month, the credit card... [Read more]
Q&A: How to get credit card companies to stop sending offers
Question? I’m tired of getting a ton of offers from credit card companies. How can I prevent credit card companies from sending me all that stuff? Answer: That’s a great question and it is indeed a pain in the royal bottom. Here are are three things you can do to help eliminate credit card solicitations: Step 1: Sign up with the credit card bureau’s “opt out” services.... [Read more]