Credit Line Profiling: Right or Wrong?
From NPR: Credit card companies are trying to cut the credit lines of many customers ... . They interviewed two people with Countrywide loans who had also received unwanted credit cuts. One of those men ... in the mail, saying their credit limits have been cut. American Express is one prominent example of companies [more...]
Date: 2008-10-28 15:54:52
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Greenspan Conundrum In Reverse
There was an interesting chart in the New York Times article Shrinking Lines of Credit. The fact that home lines of credit are shrinking is not really news, nor is the fact that mortgage rates are stubbornly high. I have talked about both of those on many occasions. However [more...]
Date: 2008-06-08 17:02:59
Revolving Credit
Once upon a time the only kind of credit you could get was called “installment” credit ... . You had to justify your borrowing, which made you think. Those types of loans are still around; your mortgage is one. Much more popular today is “revolving” credit. Lines of credit and credit cards [more...]
Date: 2008-12-29 13:04:29
Peak Credit & What That May Mean
A: Peak credit, sounds like I hit my limit on my credit cards! I guess its kind of true. For owners of home equity lines of credit, you may have noticed a decrease in your available credit line recently. Why is that? Because credit has peaked, and is now contracting! As banks work [more...]
Date: 2008-08-04 16:55:33
Business to hang itself on loan plan
Manufacturers bid for guarantees — but exactly how bad is the credit squeeze? ... : “Your government must act urgently to ensure that financing remains available to otherwise credit ... loans and lines of credit. Claiming that the “deepening global credit crisis” is putting Canada’ [more...]
Date: 2008-11-05 04:06:00
P2P Finance Landscape
A sad statement about the priority of the regulatory agencies and their targeting of the few open markets that allows people to lend to people without needing a bank is apparent by the list of P2P vendors actually open and doing business: Lending Club – Made it through the regulatory hoops and is now conducting business by connecting worthy borrowers with lenders. All while Citibank, Bank of America, and Chase are reducing credit lines or even closing credit card accounts. [more...]
Date: 2009-07-05 18:25:20
Multiple Lines of Credit - Not Necessarily a Bad Thing
by William Blake A line of credit can be one the most important financial products within your life ... with. Having a credit card is almost a necessity these days. Cash is not carried that often by people as it was in the past so having a Visa card is important. If your car breaks down on the side [more...]
Date: 2008-09-17 08:04:01
Weakened Credit Lines Have Eliminated 100 Percent Auto Financing Deals
In generous times, consumers were able to procure 100% financing on cars ... in order to purchase a vehicle, and others without stellar credit can find financing opportunities ... industry. Credit lines have shrunk, and lenders have imposed strict standards for borrowers to follow [more...]
Date: 2009-01-13 17:41:54
Are we spending enough yet?
Some wise and admonitory words from Ron Paul about the current mania for government spending/stimulus/bailout: How did we get here? ... . Then open up a line of credit and do the same thing. Both stacks are “legal tender for all debts, public ... where you got the first stack is empty. The teller who offered you that line of credit has gone [more...]
Date: 2009-01-16 13:33:05
Bad Credit Doesn’t Mean No Credit
by Chris A Smith Just because you need help with your credit report does not mean you are automatically excluded from getting a new line of credit. Each lending institution, be it a credit card company or a bank, has it’s on rules regarding the granting of credit and often times these can vary greatly from institution to institution. Usually, the company offering the best rates and terms is more conservative than others and will consider the entire credit history of an applicant. [more...]
Date: 2009-06-08 12:30:05
What Happened to Your Credit?
During a recent interview, I was asked if the credit crisis has had any affect on our credit card arbitrage ... at Fatwallet where American Express is reducing credit lines. We haven’t gotten a letter yet ... with credit card companies in the last few months. Here are some of my observations. Applying for new cards [more...]
Date: 2008-10-28 13:39:23
If Stephen Colbert were the CEO of Zappos: Explaining a layoff to your employees
image On The Colbert Report , it’s called "The Word". In Web 2.0, it’s called "transparency ". Historically, it’s called "telling the truth" ... that we have a revolving line of credit from Wells Fargo, US Bank, and Keybank. This line of credit has given us a lot [more...]
Date: 2008-11-13 20:01:44
Out-of Work Stress
I’ve been getting a lot of letters from people asking how to cope with job loss. HB wrote: My husband was just downsized out of his job ... severance pay. We do not have any savings to speak of but have money available on a line of credit and do not owe on credit cards. We own our own home. I want to plan around the scenario that he may [more...]
Date: 2008-12-26 18:07:44
Out-of Work Stress
I’ve been getting a lot of letters from people asking how to cope with job loss. HB wrote: My husband was just downsized out of his job ... severance pay. We do not have any savings to speak of but have money available on a line of credit and do not owe on credit cards. We own our own home. I want to plan around the scenario that he may [more...]
Date: 2008-12-26 18:07:44
Why Internet Marketers Love The Global Recession!
Internet marketing experts are thriving today as never before; ... -to-Consumer business is just as bad, if not worse. Millions of jobs have evaporated in the past year alone ... up many equity lines of credit, and the general credit squeeze is making it even tougher to ride [more...]
Date: 2008-12-31 05:02:24
Banks Supposedly Will Cut Consumer Credit Card Lines by $931 Billion if Reforms Mandated
There is a rather amusing story at the Financial Times tonight, "Credit card reforms ‘to cost banks billions’". Let's look at the particulars ... that banks will lose $10 billion in interest annually, reduce credit lines by $931 billion, and put ... not get anyone well known for banking expertise to put its name on a self-serving report [more...]
Date: 2008-12-15 01:59:42
Assessing Your Debt Situation (6)
Different plans have different requirements for borrowing and withdrawing money. Withdrawing money early from a tax-deferred account is expensive ... Out, by Twila Slesnick and John C. Suttle (Nolo). d. Obtain a Home Equity Loan or Credit Line Many banks, savings and loans, credit unions and other lenders offer home equity loans, also called second [more...]
Date: 2009-01-18 05:03:05
Personal Loans For A Real Estate Down Payment
With the down payment presenting the largest difficulty for most people want to buy right now, ... out there, as well as personal lines of credit and even credit cards. Not all of these are a possibility ... unsecured, the interest rate is higher than real estate loans, and the repayment period is shorter [more...]
Date: 2008-09-09 14:01:00
45% Less Credit in Americans’ Wallets
Meredith Whitney, an analyst with Oppenheimer & Co. is predicting that credit card issuers may cut as much as $2 trillion worth of available credit ... of accounts, cutting credit lines and raising interest rates are just some of the moves credit card [more...]
Date: 2008-12-02 13:03:38
Free Money Debt Grants
Debt grants help individuals and families get the financial aid they need without filing for personal bankruptcy or destroying their credit or just making matters worse by using more lines of credit. We all know that pay day loans, for example ... in the future. Your credit will be destroyed. Debt counselors might be able to create good results [more...]
Date: 2009-01-14 12:24:03
Has Deleveraging Even Begun? (Not For the Fainthearted)
It no doubt seems absurd to question the idea that deleveraging in underway ... . Leveraged buyout loans have been scarce to non-existent. Banks have cut home equity credit lines and credit card borrowing limits. Commercial and industrial loans have fallen. The private mortgage [more...]
Date: 2008-07-28 07:37:19
Bye Bye Nortel
Once North America’s 2nd largest telecom equipment maker, Ontario-based Nortel Networks Corp. (NT) filed for bankruptcy this morning ... . In its bankruptcy filing, Nortel reported that it owes $187m on that line of credit. ... s expiration of a 30-day waiver granted by Export Development Canada on a (US) $750m line of credit — [more...]
Date: 2009-01-14 18:01:54
Citibank: Fighting Back
Time to start fighting back against Citibank, which cancelled my home equity line of credit last month ... of credit be reinstated. See: Letter to Citibank The letter was mailed on May 28, and I asked ... to do the right thing. I know better than that. I've already made a complaint to the FTC, and received [more...]
Date: 2008-06-13 21:48:32
Fast Home Equity Loans - Getting Approved Online
div style=’float: right; width: 100px; padding: 5px; margin: 5px; background-color: #FFFFCC;’font size=1font color=’#cc0000′bTip! ... of credit. Conversely, home equity line of credit allows you to borrow money as you need it and pay ... be a smart move to contact the lender of your existing home loan. If your credit is good [more...]
Date: 2009-01-15 19:15:47
Beware Long-Term Cardholders With Perfect Payment Histories, Your Credit Lines May Be Slashed [Credit Cards]
Oliver paid off his Citibank platinum card on time, in full, every single month since 1989, ... up on his credit report. Oliver writes: I’ve been a Citibank Platinum cardholder since 1989 – that’s longer ... gleefully informs me that: “Sir, due to some recent negative information on your credit report we’ve [more...]
Date: 2008-07-20 19:00:00
New US Credit Card Legislation Has Allowed Credit Card Companies Too Much Time!
Amazon.de Widgets President Obama’s credit card legislation, although welcomed during these times of harsh economic woe, unfortunately will probably fall just short of what every American has been screaming out for, a strong leash on the credit card industry. Legislation to regulate the credit card companies from imposing financially sapping interest hikes and reducing credit lines without warning, will shortly be announced, and not a moment too soon as a battle weary American public continually [more...]
Date: 2009-09-29 12:31:20
What Caused the Panic Over Morgan Stanley
BUSINESSNOVEMBER 24, 2008Anatomy of the Morgan Stanley PanicTrading Records Tell Tale of How Rivals' Bearish Bets Pounded Stock in SeptemberBy SUSAN ... that Sept. 17 was that Deutsche Bank AG had yanked a $25 billion credit line to the firm.That wasn't ... called credit-default swaps, a form of insurance against losses on loans and bonds.A close [more...]
Date: 2008-11-25 05:27:00
REPORT: Credit lines increasingly hard to come by for auto dealers
Filed under: Car Buying Like him or loathe him, George W. Bush's clearest, most salient speech came almost a year ago on September 25, 2008 when our Harvard MBA president explained to the nation and the world exactly how bad the economy had gotten and why so much federal money ($700 billion-ish at the time) was being hurled at America's banks. The full speech can be found here , but one little section bears quoting: The decline in the housing market set off a domino effect across our economy. [more...]
Date: 2009-09-03 15:02:57
How to Hedge Against Inflation With a Home Equity Loan
Home equity loans were a large part of the consumer credit expansion that fueled the economy for more than a decade. The housing market bubble drove up housing asset prices, but without refinancing a homeowner couldn’t spend their new found fortune unless they got a home equity line of credit. If you are unaware of the coming wave of inflation that will threaten to unravel the global financial systems, all I can say is wise up or read some of my previous articles . If you are aware of [more...]
Date: 2009-09-29 14:00:00
Solutions offered to PM to rescue the economy
/India PRwire/ - Mr. Rajeev Chandrasekhar, MP and FICCI President today told the Prime Minister at a meeting in New Delhi on the Global Economic ... , deeper cuts in rate and CRR, open credit and freezing of credit lines could help repair the situation [more...]
Date: 2008-11-03 12:57:57
Media Digest 12/1/2008 Reuters, WSJ, NYTimes, FT, Bloomberg
Newspaper According to Reuters, US car sales are expected to be down sharply for November ... that the GM (GM) board is reviewing the firm's turnaround plan. Reuters writes that credit card companies will cut available lines of credit by $2 trillion over the next 18 months. Reuters reports [more...]
Date: 2008-12-01 08:45:43
Where is the Credit Crunch?
Back in February I pointed out that despite all the talk of a credit crunch commercial and industrial loans were at an all-time high and increasing ... on previously existing lines of credit. Well here we are in September and bank credit continues to look ... are up, even real estate loans are up. Overall, total bank credit is up with just a slight [more...]
Date: 2008-09-24 11:37:00
Enemy at the Bank of America’s Gate
If you have ever wondered what specific incident might bring about martial law, here it is front and center, brought to you by Bank of America. The first flash point of the credit crisis occurred when Bank of America refused to extend a line of credit to Republic Windows and Doors. The factory failed and sent disgruntled workers home [more...]
Date: 2008-12-10 15:46:22
Credit Card Debt: Next Big Hit to Banks?
Given how overextended consumers are, and how banks have been cutting back on the cheapest piggybank, home equity loans, by slashing those credit lines, and the reports of rising delinquencies from even conservative ... in credit card losses. But under the new bankruptcy code, if you do no qualify for Chapter 7 bankruptcy [more...]
Date: 2008-10-01 09:17:30
Eliminating Debt in 5 Easy Steps
by John Major It is unfortunate that in today’s economy, debt rules all. From the deepest spots of our wallets, we have charged ourselves to the point of no return. The commercials and ads promising a better car, newer home and more of this and that are all based on lines of credit and bank loans. Our children have been raised in this economy where paying for something means a monthly payment and a low or high interest rate; this is why debt elimination is needed. [more...]
Date: 2009-09-24 11:39:25
Looking for a quick fix to solve your credit problems?
by Ricardo Mendiola Since over half of the population has a credit score that teeters below the good line, ... that there are so many Internet scams for credit repair aimed at taking these people’s money. You do not want ... , and if you are already doing well and avoiding the need for credit repair, chances are good that with a few tips [more...]
Date: 2008-09-17 08:17:16
Bad Credit Loan Shop
.fullpost{display:inline;}As we know that if we fall behind on payments or make all of your payments late, it will reflect upon us ... , we can also get a bad auto loan, mortgage loan, equity loans, credit cards or any other types of personal ... to offer us lines of credit or financing any more. They instead try to make us pay up in front [more...]
Date: 2008-12-16 22:25:00
Say Goodbye To Plastic
Nouriel Roubini has been the most prominent Cassandra for the financial crisis, ... that I introduce her newest prediction: the severe curtailing of credit card lines. It would definitely make sense as banks haven’t been keeping credit card debt on their books, but instead turning them [more...]
Date: 2008-12-01 22:01:01
Where Do We Go From Here?
Picking up any newspaper or listening to any news outlet will have you wondering if the days of a prosperous U.S. economy are over ... /transformations that got us here: Year 2K and Internet boom -massive spending in the hardware/software ... to increase causing refinancing, line of credit boom---consumer wave starts -Govt creates Homeland [more...]
Date: 2008-11-13 12:47:43
Guest Post: Time to Recapitalize Banks Fully
As debate continues over the release of the second half of the Treasury Department’s Troubled Asset Relief Program, ... recapitalizations using government money on October 13th, but largely by massive credit lines from the Federal ... in the payments system (in which letters of credit and the willingness to take counterparty risk [more...]
Date: 2009-01-15 11:47:00
New Year?s Resolutions for the Credit Crisis
“Finish each day and be done with it,” said Ralph Waldo Emerson. “You have done what you could. Some blunders and absurdities have crept in ... institutions on mergers and acquisitions. The credit crisis exposed a major fault in short-term– ... when they couldn’t get any more credit lines. In November, banks afraid of a repeat performance of those [more...]
Date: 2008-12-31 10:02:00
Debt Managment and Debt Consolidation Loans For Bad Credit
Amazon.de Widgets What is debt consolidation but a way to financial freedom with positive actions to bring about resolutions of high interest rates, late fees, over the credit line fees, etc. and see ones balances decrease instead of increase with positive impact on the credit rating. The question is frequently asked by consumers who find that answers to accumulating debt are on the wire and something has to be done. [more...]
Date: 2009-09-22 05:45:34
Venture Firms Pull Back, But Not for Long
Venture firms are sounding the alarm over what this current downturn might mean for their portfolio companies — and it’s not pretty ... , all as their personal wealth dwindles and banks decline to offer home equity loans or other lines of credit ... stay on the sidelines? As bad as things are forecast to be, my bet is that they won’t be there for long [more...]
Date: 2008-10-10 04:01:04
Home Equity Loans Versus Home Equity Lines Of Credit
There is a difference between these two ways of obtaining credit. As great as the differences are, the uses are also radically opposite ... that is not affected by a URL=http://www.badcreditloanservices.com/bad-credit-mortgage.html mortgage /URL ... your credit card debt to avoid an endless refinancing, or any one-time purchase. The interest rate [more...]
Date: 2008-10-29 15:15:19
What's triggering decline?
A PORTFOLIO manager described the market’s recent plunge to economist Ed Yardeni as “Greatest Margin Call of all times”. Indeed ... and Goldman Sachs—are becoming much stingier with lines of credit. As stocks plunge, hedge funds must ... for liquidation to meet cash calls. It is no coincidence that the dollar and yen have rallied against [more...]
Date: 2008-10-10 18:30:00
Bayh Opposed Obama on TARP Release
On President Elect Barack Obama’s first critical thrust of power in Congress coming just five days before his presidency begins, U.S. Sen ... opening up lines of credit for people who have responsibly managed their finances and want ... people access to credit.” U.S. Rep. Mike Pence, who heads the House Republican conference, voted no. “ [more...]
Date: 2009-01-16 15:51:12
The Brown Swan
My critique in VDARE.com of Nassim Nicholas Taleb's bestseller "The Black Swan: The Impact of the Highly Improbable" ... (or rather, the ‘black swan’ event would have been loaning to bad credit risks and having them ... tries to walk the delicate line of giving the book credit while explaining some of the ways [more...]
Date: 2009-01-05 22:27:00
Gas AlternativesJanuary 7, 2009
A recent article on Parade.com entitled What Will Fuel Our Next Cars? explores the most promising gas alternatives today ... short-term credit line as well as $50 billion in loan guarantees on top of its regular taxpayer ... subsidies.Just switching from one environmentally deleterious fuel option to another equally as bad [more...]
Date: 2009-01-07 18:11:33
Stimulus as if Capitalism Mattered
Those dispensing the “Bailout to Nowhere” proceeds seemingly answer to no one (here’s one article behaving as if this were unexpected and surprising). Today brought the $9 billion Ford auto credit-line appeal, and the $500 billion Pelosi compound ... !); but all corners of government and both major political parties can take “credit” when markets [more...]
Date: 2008-12-02 20:13:35
Bailed Out BoA Goes Janus? Or Is It All the Same to Them?
On the one hand, Bank of America received lots of love and kisses from progressives and environmentalists last week for committing to end " ... financing of companies whose predominant method of extracting coal is through mountain top removal ... for refusing to provide a line of credit so that some Main Street workers can receive [more...]
Date: 2008-12-09 03:25:00
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