Does your credit card work for you? Learn from credit card reviews how to make a credit card work for you!
July 15th, 2009 Admin
Choosing the right credit card lender can make all the difference in the world. Instead of being stuck with a credit card that comes with outrageous fees and horrible customer service, you can actually go with a good quality credit card lender.
Just because a credit card company is big, doesn’t mean that it is the best. In fact, large credit card companies tend to have a weaker customer service department and higher fees. Let’s take a closer look at the ratings that Citibank gets for its credit card department.
When it comes to customer service, the average rating for Citi is only two stars out of five. This could possibly be due to the fact that Citi handles millions of credit card accounts each year. Perhaps they are too bogged down with their current accounts that they can’t quite keep up with the possibility of improving their customer service department. Customers, in general, have been frustrated with the fact that their calls and complaints aren’t handled in a timely or professional manner.
Citi scored slightly better when it came to the Rates and Charges category. Customers were generally more satisfied with Citi’s rates and fees. That is saying quite a lot because customers aren’t usually pleased with this category. However, Citi got three stars out of five.
Overall, customers ranked Citi with only two stars out of five. Although they were more satisfied with Citi’s rates and fees, the customer service department ruined the opinion of customers around the country.
Don’t get me wrong, Citi does have some great benefits. Perhaps if every customer used their credit card the way credit cards were meant to be used, all consumers would be satisfied with their credit card company. But, these are some important things to keep in mind if you are considering a credit card from Citi.
Posted in Citi Credit Card | No Comments »
July 13th, 2009 Admin
In the world of confusing cash advance loans, CashTree.com is dedicated to making the process easy to understand, convenient & private, and as fast as possible. The CashTree folks recognize that borrowers are seeking fast service that puts the money they need in their hands faster.
What You Need to Know
There are a few things to keep in mind when you are applying for no fax loans through CashTree.com. First of all, you’ll need to have a gross income of at least $1,500 per month. It’s OK if your take home is less than this, just as long as your pre-tax income is $1,500 or more.
Also, your checking or savings account needs to have been open for at least one month before you apply. Cash tree loans are available to adults 18 years of old or older. And finally, you must not be in bankruptcy or have intention of filing for bankruptcy.
Do You Check My Credit?
One of the best things about cash tree loans is that your credit doesn’t matter. In fact, your credit won’t even be checked. As long as your employment and income can be verified and meet the requirements, you should have no trouble being approved for a cash advance loan.
How Soon Will I Get My Money?
Soon! To be more specific, no fax cash advances are usually deposited into your account the next business day as long as your application is received & verified before 1 p.m.
Why is CashTree.com Different?
Quick payday loans processed through CashTree.com are done so quickly so that you have access to funds faster. The CashTree.com team is dedicated to excellent customer service, so you can expect nothing but respect from this company. The no fax loans are fast and easy, and as long as your income and employment can be verified over the phone, you’ll never have to worry about faxing anything.
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March 17th, 2009 Admin
There has been a lot of debate concerning the housing bailout plan. Many details of this plan have not been revealed…until now.
Details about exactly “who” and “when” are now being released by President Obama and his administration. The new plan is geared to help over 9 million homeowners stay in their homes. How will this happen? Struggling homeowners will be able to refinance their mortgages into new mortgage programs that have lower monthly payments.
This new program, also know as the “Making Home Affordable” program, has already been extremely popular among homeowners. Many homeowners, who have been struggling for several months, say that the new program is welcomed news.
Here’s an interesting point to consider however. Homeowners who have been hit the hardest by the crash of the housing market won’t be affected by the bailout plan. That’s right…homeowners who own their primary residence in Arizona, Nevada, California and Florida aren’t likely to qualify for the “Making Home Affordable” plan.
The Obama administration and other government officials predict that “tens of thousands” of homeowners who need the help the most, won’t be able to qualify for it. Instead, the housing bailout plan is only a small step in the right direction. The Obama administration has made it very clear that the plan is targeted to help “responsible” homeowners.
There is another factor to consider, here’s the marketing analytics: not every bank and/lender is going to be participating in the program. However, the plan is twofold. One aspect of the plan deals directly with banks and lenders. Up to 4 million homeowners will be assisted in this aspect because the government will work with the lender to modify existing troubled mortgages. The government will also work with the other 5 million homeowners to refinance their existing mortgages into more secure, fixed-rate loans.
Here’s what you need to know if you are interested in this program:
1. Eligible homeowners must provide a copy of their most recent tax return
2. Eligible homeowners must provide two of their most current pay stubs
3. Eligible homeowners must provide an “affidavit of financial hardship”
4. Eligible homeowners can only have their mortgage modified one time
5. The loan modification program runs from March 4, 2009 until 2012
6. The loan modification program affects mortgages made on or before January 1, 2009
7. Single-family residences that are worth more than $729,750 are not eligible for the program
Finally, there are some specific details about President Obama’s housing plan. If you are a homeowner that is struggling to make your mortgage payment, check into the details of this plan. This could be just what you have been waiting for.
Thanks to Plastic Rewards for providing this post - if you are looking to apply for a credit card online, or just do some research, please visit their site.
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March 12th, 2009 Admin
Have You Considered Swapping Your Home?
More and more people have been affected by the current housing crisis. Millions of homeowners are unable to sell their home for as much as they owe on it. Millions more simply can’t make their mortgage payments. However, a new real estate trend is sweeping the nation and this one has real estate agents stumped.
The trend is home swapping. You read that right. Home swapping. Here’s how it works: One potential home buyer wants a bigger house. One potential home seller wants a smaller house. The buyer can’t get necessary funding without selling their primary residence first. So, the buyer and seller simply “sell” their houses to each other. Each of the closings would have to happen almost simultaneously in order to avoid any sort of financing hang-ups.
Believe it or not, this trend is sweeping the nation. Of course, both the buyer and seller have to agree to the terms of the swap. Similarly, both the buyer and seller end up being both a buyer and seller of one another’s home.
There isn’t really a way to track how large of a trend this is becoming because the National Association of Realtors does not keep track of home swaps in its annual averages. Stephanie Singer, of the National Association of Realtors, said, “We haven’t seen this happen on a very big scale. It can be a very complex transaction, especially if you’re crossing state lines.” However, no one can be certain how often this is happening.
There have been home-swapping websites created to facilitate such transactions. MK HomeSwap, GoSwap.org, Domuswap.com and OnlineHouseTrading.com are some of the most popular home swapping websites out there.
Areas that have been hit the hardest by the housing collapse are also the areas that are seeing the most swapping. Southern California, Arizona, Nevada and Florida are home to many home swaps per year. This is proof that homeowners are getting creative, especially when they have been hit hard by the housing market.
If you have been experiencing problems with your current mortgage or have had a hard time selling your home, you might want to consider listing your home on a home swap website. It may be your only opportunity to get out of your current mortgage without losing money on the transaction.
Posted in Economy | No Comments »
March 10th, 2009 Admin
We, as a country, have already watched several big-name retailers go out of business. Mervyns, especially, comes to mind. Mervyns was a department store that sold products for low prices. Where are they no? Non-existent.
The retail industry is probably the most vulnerable right now. Customer analytics shows consumers are spending less and less of their valuable income on non-necessity items. Retailers spend over 10 years in an atmosphere that encouraged consumers to get into debt.
Now, consumers can’t get the same financing they could a few years ago. American families have had to cut back in every aspect of their lives, including unnecessary spending.
Large financial lenders have had to cut back their lending to retailers as well. Wachovia, GE Capital and CIT Group (some of the retail industry’s biggest lenders) have had to tighten their lending terms. Their reasoning is to reduce the exposure to nationwide retailers. These terms have made it much more difficult for retailers to “find capital to reorganize under bankruptcy-court protection.”
So, what does this all mean? There are likely to be a lot more retail liquidations in the coming months.
Circuit City Stores filed Chapter 11 bankruptcy protection in November. On January 9, the electronics superstore said that it faced possible liquidation if an acquisition or cash infusion deal didn’t work out.
Goody’s Family Clothing recently announced that it will be liquidating all of its remaining 287 stores. This announcement came just three months after it “exited” bankruptcy status.
Against All Odds USA, a clothing chain, also announced that it will enter Chapter 11 protection. It will enter this protection in hopes of being sold or being reorganized.
Standard and Poor’s recently reported that nine major U.S. retailers and restaurants face a significant risk of default. Among these are Loehmann’s Holdings, Duane Reade Holdings and Finlay Enterprises. One year ago, S&P had only six companies on its list.
Michael Henkin, managing director and co-head of the restructuring group at Jeffries said, “A lot of retailers survived through the holiday season because they built up their inventories in the summer before anyone, like their vendors, knew it would be this bad. But now you will see a lot of filings.”
Loehmann’s President, Robert Glass, said, “We have sufficient cash to sustain our operations, and pay the interest on (our) notes. Our parent has put money into the business, and has continued to be very, very supportive.”
Many of the retailers that are in grave danger of being liquidated say that they are “comfortable” in their current position. But, the fact of the matter is that many of these companies will be out of business by the end of 2009.
Posted in Economy | No Comments »
March 5th, 2009 Admin
Everyone has different “taste.” This “taste” includes taste in food, clothes, home decor, furniture, etc. Afterall, that is what makes this world such an interesting place. But, did you know that consumers can get different credit cards according to their individual style.
The biggest indicator of your credit card style is the way that you were raised. Sound bogus? Let me explain…
When you were growing up, you probably intently watched how your parents handled their finances. Whether you realize it or not, you probably handle your finances much of the same way you saw your parents handle theirs. For instance, did your parents primarily use their credit cards to make purchases? Is that the same way that you handle your expenses and purchases? Chances are that your financial style is the same as your parent’s financial style.
Your financial style can predict what type of credit card you use. There is a countless array of credit card types out there. These include:
-instant approval credit cards
-High interest
-Low interest
-Cash back
-Travel rewards
-Rewards credit cards
-Annual fee credit cards
-Etc, etc, etc
So, which type of credit card fits your “taste” or financial style? Let’s take a look.
If you use your credit card for everyday purchases and make sure to pay off the entire balance every month, you will be better off with a reward-based credit card or a cash back credit card. You have the opportunity to rack up the points, without paying a dime of interest.
If you do a lot of traveling, either for your personal life or for your business, you might be better off with a travel reward credit card. Each time you use your credit card, you can earn points that can be used the next time you travel. You can either use these points frequently or save them. The more points you save, the better chance you have of paying for your next trip entirely with your reward points.
If you don’t pay off your entire credit card balance every month, you are better off with a low-interest or no-interest credit card. This will minimize your payments and the amount you will end up spending on interest.
Make sure you fully understand all of the ins and outs of your credit card terms. It is also extremely beneficial to understand what your credit card “tastes” are. This way, you can carefully choose a credit card that will benefit you and your finances the most.
Posted in Credit Cards | No Comments »
February 23rd, 2009 Admin
Marketing to Students?
Think back to when you were in college. Do you remember all of the credit card offers you received? Credit card companies spend millions of dollars targeting college students. Why? Because these students don’t always know how to use credit cards responsibly and can end up paying a great deal in interest payments.
Plus, these students will have good jobs and be in their careers in a couple of years. So, why not let students rack up credit card debt and then nail them in interest charges once they are finally in a career?
Many students don’t realize that their colleges and universities are helping the credit card companies. Not them. Many colleges and universities actually sell student contact information. Some institutions even give contact information to credit card companies. All of this is always done without any consent from the student.
Florida has already begun discussion about prohibiting these actions. A Republican lawmaker from Florida, Carey Baker, brought the item to the table. He has worked closely with The Consumer Warning Network to expose higher-education institutions and credit card companies.
In July of 2008, The Consumer Warning Network showed us just how dangerous things have gotten. It reported that some colleges/universities “pocket” a portion of the proceeds every time a student applies for or qualifies for a credit card. It also exposed exclusive marketing schemes from Bank of America to college students.
Now, lawmakers are extremely interested in what the relationship is between credit card companies and institutions of higher learning.
Carey Baker has proposed new legislation that would prohibit these practices. His bill would completely prohibit any college or university (public or private) from working with credit card companies. These institutions would now be prohibited from “offering or facilitating the marketing of credit cards to undergraduate students.”
This would be welcome legislation. Instead of helping credit card companies, maybe colleges and universities would take a more active role in educating undergraduate students about the proper ways to use credit cards. After all, the students of today will be the financial and economical leaders of tomorrow.
Posted in Credit Card Offers | No Comments »
February 20th, 2009 Admin
The Importance of Payment Scheduling
One of the biggest problems that credit cardholders face is remember when a payment is due. Many cardholders try to juggle several different cards, each with a different due date and payment amount.
Here are a few reasons why you should schedule your credit card payments or automate the payment schedule.
1. You’ll Save Money. How many times have you paid a $10 late fee? How about a $25 late fee? Add up all of the money that you have wasted by missing due dates. Think about what you could do with that money now. Scheduling your credit card payments is a great way to keep all of that money in your wallet. You could even put that money into a savings account and watch your responsibility grow. Many bank accounts also offer a free bill pay service. Try using this service to have your credit card bills paid automatically every month. You can stay on top of your due dates without even having to think about it.
2. Your Credit Report Will Thank You. Many people don’t think that being a few days late dings their credit. Well, here’s a news flash. It does. Lenders can look up your payment history and see if you make it a habit to be late while paying your bills. Just because your bill paying tardiness doesn’t get reported to the credit bureaus each month, doesn’t mean that it won’t affect your ability to qualify for loans down the road. For instance…I used to work at a credit union. Each time a member came in to apply for a loan (whether it was an auto loan, a second mortgage, a line of credit, etc), we looked at their payment history. Those individuals who always paid their bills late usually didn’t get approved for the loan they were seeking. Keep this in mind.
It’s time to think about scheduling your credit card payments. You can create your own scheduling system or try an automated one. Either way, you’ll be better off than you were before you started scheduling your payments.
Posted in Credit Cards | No Comments »
February 16th, 2009 Admin
Wouldn’t it be helpful to have a condensed guide that gave you all of the credit card secrets that you needed to know to stay ahead of the game?
Well, today is your lucky day. Pay close attention to these credit card secrets to know what you need to do to make the most of your credit card experience.
1. READ and UNDERSTAND the fine print. Most consumers don’t read the fine print and this is a dangerous habit to get into. Before signing up for a card, make sure you read all of the fine print and understand all of it as well.
2. Pay your bill on time. Paying your credit card bill on time can not only save you money in late charges, but it can ultimately save your credit history as well. Most consumers don’t realize that if your payment is late on one card, the interest rate on any of your other cards could go up.
3. Get rid of those annual fees. Do you have a credit card that has an annual fee? Do you have good or excellent credit? If your answer is “yes,” you are in good luck. All you have to do is call up your credit card company and ask them to get rid of the annual fee. Seventy-five percent of the time, this really works. So take advantage of it.
4. Pay in full all of the time. Don’t waste your time paying minimum payments. Minimum payments will get you no where. Paying interest on credit cards just doesn’t make sense. You end up paying much more than what a product is worth.
5. Pay attention. How many credit cardholders really read their statement every month? Not many. It is so important to pay close attention to your monthly statement. You can catch due dates that have changed. You can also keep a close eye on credit card fraud and unauthorized charges.
6. Waive it. You will always pay your credit card on time and in full. However, things do come up. If you don’t make it a habit to pay your credit card late, you can often get that “occasional” late payment waived.
7. Security insurance. Most credit cards come with insurance. You don’t need to buy extra insurance, but many people do. Check and make sure you aren’t spending unnecessary money on security insurance that won’t do you any good.
8. High-interest cards. Try not to use high-interest rate credit cards. Many of these cards come with a great “introductory offer.” However, once the offer has run out, the interest rate skyrockets. If you do have a balance on a high interest credit card, try and pay that one off first. The idea is to pay off the cards with the highest interest first. You can save yourself a bundle in the long run.
9. Credit Union Credit Cards. If you are looking to get a new credit card, try going through your local credit unions. Credit unions often have better rates and fees than other credit cards.
10. Insurance. Credit card insurance is different from credit card security insurance. In the event that you become disabled, unemployed, or experience other unforeseen situations, credit card insurance puts a stop to your payments. The downfall to this insurance is that it is extremely expensive. It also delays your debt instead of eliminating it.
There you have it. All of the credit card secrets that you need to know. Understand and follow these tips to make the most of your credit history and credit card usage.
Posted in Credit Cards | No Comments »
January 14th, 2009 Admin
Predictions for 2009 Job Losses
How many jobs will be lost in 2009? No one knows for sure. But, there are some pretty scary predictions out there.
An estimated 2 million more jobs could be lost in 2009. 2.6 million jobs were lost in 2008. The Conference Board issued a report that showed exactly where its Employment Trends Index fell to. The index recently fell to 99.6 (down 1.6% from just last month).
Gad Levanon, the Conference Board senior economist said, “The continued deterioration in the Employment Trends Index signals that no turnaround in the labor market is expected in the near future.”
The Employment Trends Index has continued to decline for the past 17 months. It has dropped more than 1.6 percent in the past six months.
Many Americans wish the index would change, but the truth is that it just isn’t getting better. Wachovia’s chief economist John Silvia said, “I know that this is frustrating for a lot of people because they would like to see a change in the trend. But what we’re seeing is the same as before.”
Silvia predicts that the worst is already behind us. He continued, “A lot of companies have already cleared the decks in 2008. Given that we’ve already claimed a loss of 2.6 million jobs, we can probably expect to see another million and a half.”
However, things don’t look so good for those who are out of work. The job market continues to decline as more and more companies resist hiring. In fact, “the jobs hard to get component” of the Employment Trends Index went from 37.1 percent in November to 42 percent in December.
It is getting harder and harder to become employed as millions of Americans look for work. Silvia said, “We can expect to see a further decline in the next six months, but we’ve probably already seen the biggest number we’re going to see.”
Posted in Economy | No Comments »