How High Does Your FICO Score Need To Be?

A recent report on lending revealed that 46 percent of all loans made in the consumer credit market were made to debtors with a FICO score over 750. That's nearly half! And it's not that many debtors are suddenly seeing their credit scores shoot up, it's that lenders are still finicky about who they will [...]

By |2018-11-16T22:32:29-06:00July 7th, 2011|Credit Card Negotiation|Comments Off on How High Does Your FICO Score Need To Be?

Questions You Should Ask Before You Get A Secured Credit Card

One of the most common recommendations for post-bankruptcy debtors looking to rebuild their credit is that they get a secured credit card. But all secured credit cards are not created equally. Questions you should ask before you sign up for a secured credit card: How much of a deposit is needed? Most secured credit cards [...]

By |2021-01-21T12:45:04-06:00October 6th, 2010|Credit Card Negotiation|Comments Off on Questions You Should Ask Before You Get A Secured Credit Card

3 Things You Need To Know About The Zero Percent APR Credit Cards

Many debtors are becoming savvy about how debt can have a very negative impact on their financial health. Many debtors are even going so far as not taking on any debt at all, keeping their existing credit card balances at zero and rejecting any and all new credit card offers that come their way. But [...]

By |2021-01-19T15:59:08-06:00September 9th, 2010|Credit Card Negotiation|Comments Off on 3 Things You Need To Know About The Zero Percent APR Credit Cards

What Credit Card Debtors Should Know About The Statute Of Limitations

Credit Card lenders and their debt collectors have a limited amount of time to sue debtors for failing to repay credit card debt.  In the state of Texas, the statute of limitations for open ended type debts such as a credit card is four years.  A debt collector pursuing a debtor for payment on a [...]

By |2018-11-16T06:44:09-06:00June 2nd, 2010|Credit Card Negotiation, Credit Counseling, Debt Collectors, Lawsuits, Managing Your Finances|Comments Off on What Credit Card Debtors Should Know About The Statute Of Limitations

Don’t Be Fooled By “Free” Credit Health Companies

It's been seven years since credit bureaus have been required by law to provide Americans with annual access to their credit reports, at no charge; but the the AnnualCreditReport.com web site created to manage the process has been overshadowed by a variety of companies claiming they can offer "free" credit health reports leaving many consumers confused [...]

By |2018-11-14T19:14:34-06:00May 8th, 2010|Credit and Bankruptcy, Credit Card Negotiation, Credit Counseling, Economy, Managing Your Finances|Comments Off on Don’t Be Fooled By “Free” Credit Health Companies

How To Avoid The Coming Credit Card Backlash

With the implementation of the Credit Card Act last month, many credit card companies are taking actions to make up for lost profits.  The implementation of annual fees and inactivity fees are just two of the most commonly used strategies being utilized by credit card companies to fill in the gap of lost profits.  But [...]

By |2018-11-12T19:31:02-06:00April 28th, 2010|Credit Card Negotiation, Credit Counseling, Economy, Managing Your Finances|Comments Off on How To Avoid The Coming Credit Card Backlash

New Credit Card Disclosures May Not Reach Debtors Who Bank Online

The new Credit Card Act which requires credit card companies to disclose how much a debtor needs to pay each month to pay off their balance clean within three years, and how long it would take them to be debt free if only minimum payments are made may not effectively reach debtors who bank online [...]

By |2019-01-23T07:12:48-06:00March 19th, 2010|Credit Card Negotiation, Credit Counseling, Economy, Managing Your Finances|Comments Off on New Credit Card Disclosures May Not Reach Debtors Who Bank Online

What To Expect From The Credit Card Industry In 2010

After the passing of the Credit Card Act, which will restrict credit card companies' ability to increase interest rates, amongst other things, the credit card industry took decisive action to soften the blow to their profits. Below are some of the changes you may see on your credit card in 2010: An annual fee.  Since [...]

By |2017-12-13T02:11:29-06:00March 2nd, 2010|Credit Card Negotiation, Credit Counseling, Economy|Comments Off on What To Expect From The Credit Card Industry In 2010

What You Need To Know Before You Pay That Credit Card Debt

Many debtors who have fallen at least six months behind on their credit card accounts are receiving payment demands from debt collectors.  These calls and letters can be unsettling and scary.  But it is important that debtors understand that debt collectors are infamous for using unethical and even illegal means to get you to pay [...]

By |2018-11-16T06:54:21-06:00February 17th, 2010|Credit Card Negotiation, Credit Counseling|Comments Off on What You Need To Know Before You Pay That Credit Card Debt

Credit Card Penalty Rates vs. Penalty Fees

Making a late payment on your credit card has always carried a heavy penalty.  Most prime credit card issuers will dramatically increase a debtor's interest rate for one missed payment.  The penalty interest rate is typically called the "default rate."  The average default rate for credit card issuers is 27.88 percent, and more than half [...]

By |2018-11-16T23:16:42-06:00February 16th, 2010|Credit Card Negotiation, Credit Counseling|Comments Off on Credit Card Penalty Rates vs. Penalty Fees
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