Credit Card Banks 'Rate-Jack' Customers
It arrived in Rich Stevens' mailbox a few weeks ago: the notice that Citibank had "rate-jacked" the Visa cards belonging to him and his wife. Some credit card holders have seen their interest rates go up dramatically, a practice called ... , he said. Stevens said he did not know why the rates had soared; his credit rating is great. [more...]
Date: 2008-12-19 19:31:17
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Great Importance of Credit Protection for Your Identity
by Jean Nicholson There have been a lot of misconceptions about credit protection which is a grave blunder! Many people believe that this is only for those who have financial problems. In reality, the people who have no financial liabilities are more vulnerable targets of identity theft. A person who does not have any existing record of accountabilities has high credit rating and certainly qualifies for loans or credits. In rare cases, banks do ocular inspections. [more...]
Date: 2009-09-29 20:13:09
The Fed Should Buy Down Consumer Credit Card Rates - Fast
Lets say I owe the bank behind my credit card 1k dollars and Im paying 10pct interest because the best I can do is a little bit more than the ... that I have my credit card with and charge it 5pct plus some warrants to in turn loan that money back ... with to help save people’s homes, are many of the same banks that are pounding credit card holders [more...]
Date: 2008-10-24 23:38:36
Things I Learned When I Refinanced My Home
Some days I feel like a home refinancing expert. I’ve refinanced my home twice in the last three years to take advantage of attractive interest ... , I called my local banks, credit unions, and savings and loan companies. I also checked interest rates ... to the interest rates on many credit cards. In addition to looking for a lower interest rate, people [more...]
Date: 2009-01-15 01:31:07
Winners and Losers from Current Economic Situation.
In the current economic situation we have Low inflationLow PoundVery low interest ratesDeclining output / rising unemploymentWinners include: ... is not rising ( at moment). In theory people with credit card debts should benefit, but, in practise, banks have not passed rate cuts onto those paying credit card debts. Interest rates are still around 16-17 [more...]
Date: 2009-01-13 06:40:00
Sexually Transmitted Debt: Eewww!
By Nora Dunn commingling You can contract more than just disease by sleeping with the wrong person…watch out for sexually transmitted debt, ... up on it; there is no blood test for this one. Your bank book and credit score though: they will bear ... aside, they shared many things, including Scott’s credit card, Scott’s credit rating, and Scott’s cash [more...]
Date: 2008-10-23 02:42:47
'¡Carguelo a mi cuenta!' campaign retreats among Mexican banks
Mexico's love affair with high-interest credit cards appears to have been a short-term romance ... one. As the country deals with its own economic slowdown, Mexican banks are seeing higher rates of credit card default ... , it shouldn't be a big surprise that credit card defaults are on the rise in Mexico. Considering that many [more...]
Date: 2009-01-09 13:34:02
Stocking Stuffer
Not a creature was stirring, not even a mouse… With the Federal Reserve cutting bank lending rates to near zero, ... and credit card debt are at anywhere from six to 20 ... tree?” My white in-laws are taller than our tree. If you’ve been capitalistic, materialistic, perhaps [more...]
Date: 2008-12-18 18:47:31
Unbiased Road Map to Free Credit Report: Ordering Your Free Credit Score
Your credit rating is basically accurate picture of your bank account and in many cases your net worth ... state of the economy, a good credit score is more important than ever before. Getting a loan [more...]
Date: 2009-01-07 01:46:13
Fed Funds Rate Drop Update: Locking In Higher Bank Yields Now
Given the recent drop in the Fed Funds rate to nearly zero, bank have been adjusting their interest rates accordingly ... ) Certificates of Deposit Pentagon Federal Credit Union is offering 3-year, 4-year, and 5-year CDs at 4.75 [more...]
Date: 2008-12-22 12:32:43
links for 2008-10-14
No Time to Waste . . . - The Big Picture Death rate 70 percent lower at top-rated hospitals - EurekAlert Wall Street's Nine Banking Families Fail ... Credit Default Swap fault-lines: Lessons from 2005 GM, Ford crisis - Vox EU Preserving Forests ... How to Repair What Ails Us - The Big Picture Why don’t we trust a stranger? Ties that bind - Vox EU [more...]
Date: 2008-10-14 07:06:00
Federal Reserve Proposes Rules to Implement Card Law
Sept. 29 (Bloomberg) -- The U.S. Federal Reserve proposedrules today that will end banks’ ability to apply credit-cardpayments to balances with the lowest interest rates first,implementing legislation Congress passed in May. The Fed also proposed that creditors obtain consumers’consent before charging fees for transactions that exceed creditlimits. Restrictions on lending to people under the age of 21and subprime credit-card fees were also included, the Fed saidin a statement. [more...]
Date: 2009-09-29 17:59:56
S&P's Puts Spanish Sovereign Debt On Ratings Watch Negative
bond+spreads+2.png - Spain yesterday became the third euro zone country within a week to be warned by rating agency Standard & Poor's that its credit rating (currently the highest - AAA) is under threat from the deterioration in public finances being produced by the government's attempt to support the banking system and put [more...]
Date: 2009-01-15 15:12:32
Fixing Your Messed Up Finances this 2009
If you enjoyed the holidays as much as everyone else, then like them, ... -up budget. List all payables. How much credit card debt do you have? Get all your receipts ... your credit card statements so you can see if your bank is increasing its rates. Explore ways on how [more...]
Date: 2009-01-07 10:18:05
Unemployed to reach postwar high: OECD
Well, you’re going to be unemployed for years, but the biggest banks are making record profits, so the economy is doing fine, just a little slow, or so we’re told. Recent: US credit shrinks at Great Depression rate prompting fears of double-dip recession | Nassim Taleb on the economy: ‘We still have the same disease’ | Flaherty sees deficit, debt, and timetable to return to surplus all expanding | Investors dump money market funds | Scotiabank: Global economy set to recover, China and [more...]
Date: 2009-09-16 11:31:21
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
China to Relax Bad Debt Rules to Encourage Lending
In another sign that China's slump is serious enough to evoke crisis responses from the officialdom, ... . The objective is to encourage banks to continue to extend credit to borrowers experiencing short-term ... ,” said Liao Qiang, the rating company’s Beijing-based analyst, in an interview. “Governments tend [more...]
Date: 2009-01-12 06:19:21
The U.S. Dollar: A Federal Reserve Thingy
by The Mogambo Guru The front of a recent issue of Barron's asks, "Are Treasury Bonds Safe? ... , "This means that anybody who is buying any debt - when the central banks of the world are creating more and more money and credit at such astronomical rates - is a real moron, or lunatic, or both [more...]
Date: 2009-01-07 21:29:29
Consumer Groups Blast Banks' Card 'Tricks'
If credit cardholders feel worse off since the passage of the law designed to protect them from banks, that's because they are. An avalanche of new fees, interest rate hikes and other costly changes since the law was signed in May suggest the Credit Card Accountability, Responsibility and Disclosure Act, or the CARD Act, has backfired. [more...]
Date: 2009-09-29 19:40:03
If you've got $13,000 in bad credit card debt, ask for help!
bank of j. Or at least stop adding to it :) One of my friend's bf had been going slowly under in credit card debt for years now, ... bad it actually was. He was $13,000 in credit card debt, spread across 3 cards with interest rates ... me want to vomit when i heard that...can you imagine? it's one thing to have a lot of debt [more...]
Date: 2008-08-28 15:57:30
Flat is the new up!
rich, just like it didn’t stop Donald Trump. Instead, it should make you adjust how you control your finances ... : Pay off your debt – list out every penny you owe and the interest rate next to it. Chances ... from the bank. So instead of making the minimum payment on your credit cards each month, pay them off. Spend [more...]
Date: 2008-12-09 04:01:41
I have a new 0% credit card
clownfish2 Before you close your browser and stop reading, let me explain… I have my credit card payments set-up for auto-bill pay ... goes wrong. About 6-months ago, I received my statement for my Bank of America credit card ... up, and immediately went online to begin looking for a new 0% rate card. 0% Discover Card I had heard really great [more...]
Date: 2009-01-07 11:29:54
The Mission: CD Rates California, Mission Bank
Choosing a savings plan that makes sense for you and your lifestyle can be a difficult task ... , certificates of deposit, credit cards, and business, agricultural, commercial real estate, construction, residential, and consumer loans. It also provides credit card processing services to area [more...]
Date: 2009-01-15 05:21:10
Expat Living - The Credit Crunch In Spain
Ten years after it was launched, the euro is propelling Spain towards disaster. In giving up control of domestic interest rates to the European Central Bank, handed over a vital instrument of macroeconomic management. If you read the Jeff Randall article in the Telegraph recently you would think that the end is nigh, [more...]
Date: 2009-01-14 17:40:39
Why stop with capping payday loans? Banks are just as bad.
Obviously, banks have better lobbyists than payday lenders, why else can someone who has no problem charging $37 ... than $300, yet, credit card balances can be several thousand dollars. Which is worse, missing a payment on a credit card and having your interest rate go from that low intro rate of 15.9% to 29 [more...]
Date: 2008-06-07 13:02:45
Friday morning links
TOP STORIES Rate cut from Japan, Barclays seeks funding - Reuters Nevada, Michigan, Florida lead 'underwater' list - AP Housing plunge: ... is more likely than many assume - MarketWatch Banks, consumer advocates urge U.S. to allow credit card debt ... it feels so bad - CNN/Money Economic data point to the start of a recession - LA Times Recession Ghost [more...]
Date: 2008-10-31 13:20:00
Debt Management Programs– best way to get out of debt.
A debt management program collectively takes all the loans of various amount and interest rates and forms into a new loan which is released to you. After that, only a single installment is required to be paid every month on a fixed rate of interest. This process is known as debt consolidation. Usually, debtors opt for bill consolidation scheme from the fear of bankruptcy. The problem originates with the use of many credit cards or taking multiple loans from various banks for personal or investment purposes. [more...]
Date: 2009-09-08 05:51:11
Is Bank of America the Next “Citi”?
Is Bank of America the Next “Citi”? This morning Bank of America hit a new 52 week low, and traded at its lowest level since 1991 ... that help illustrate why humans make predictably irrational decisions. Ariely is the author ... , and the weaknesses in the credit rating agencies’ collateralized debt obligation (CDO) assumptions [more...]
Date: 2009-01-15 15:42:49
Upon starting to glance at our taxes
So one thing federal financial regulators and Congress need to examine is why banks can pay virtually nothing in interest rates on standard savings ... while regulating the hell out of them. And yes, there are credit unions, which can be a good [more...]
Date: 2009-01-06 18:53:43
Capitalism Freezes in Worldwide Winter of Discontent
Capitalism Freezes in Worldwide Winter of Discontent (Update1) Jan. 12 (Bloomberg) ... interest rates to near zero to unlock credit markets, pushed governments to bail out their biggest banks [more...]
Date: 2009-01-12 16:10:00
Credit Card Laws and Court Rulings–Have They Helped Consumers?
This is a guest post by Bill Hardekopf, CEO of LowCards.com . Congress passed the Credit CARD Act in May but gave issuers and banks almost one year to implement the major provisions of the bill. Since then, issuers did exactly what they threatened to do–raise rates and fees on a broad group of cardholders. Consumers and elected officials are not happy about this, and members of Congress plan to introduce a bill to accelerate the effective date of the bill from February 22, 2010 to December 1, 2009. [more...]
Date: 2009-09-25 19:18:38
Meg Whitman: Cut Taxes, Spend Money
Meg Whitman, a probable candidate for governor of California, frames every question as how it effects that state—its rate of unemployment, ... out her suggestions •Make the R&D tax credit permanent. •Small business access to capital through lending. •Demand that banks that get federal support lend to small businesses. •Reduce business [more...]
Date: 2009-01-15 15:36:15
Do you want to purchase a new flat screen and postulate 10000 dollar
A moneylender in East Providence Rhode Island or so can have a total different actual rate for a 5000 dollar money loan then a merchant bank in ... nooit zo eenvoudig geweest. Haal snel een andere auto met bkr toetsing zonder lenen, 232653 euro ... that offers you a credit loan. That’s the reason why now you need to investigate and experience [more...]
Date: 2009-01-15 21:18:31
Mortgage rates slide under 5%
Rates on 30-year fixed-rate loans fell across the country for the week ended Thursday to an average of 4 ... Altman, a partner with WestCal Mortgage Corp. in Orange, said homebuyers with good credit and a 20% down ... brokers; could lay off 100 Bad bank assets must be dealt with, Fed chief says O.C. distressed homes [more...]
Date: 2009-01-15 22:02:07
Juan Cole: Labor Day in a Kleptocracy
Where have All the broad Shoulders Gone? Or, Labor Day in a KleptocracyBy Juan Cole / September 7, 2009The unemployment rate as I write is inching toward 10 percent nationally, and that is only counting people who were still looking for a job recently. A vast bank robbery by the corrupt on Wall Street has deprived them of the credit that made the economy go. [more...]
Date: 2009-09-08 01:27:00
Why Are Interest Rates So Low?
Why Are Interest Rates So Low? By Robert Higgs on Aug 16, 2008 in Economics, Money and Banking | 3 Comments A month ago, I posted a little piece at The Beacon to raise some questions about the so-called credit crunch ... , was an answer to the question I had raised: if there is a credit crunch, why have we not seen [more...]
Date: 2008-08-17 04:07:03
Memo to The Banks
Memo to The Banks: Lend or Else DAVID SMICKBack in the early 1990s, when Fed Chairman Alan Greenspan was still considered "the Maestro," ... a discussion of 1980s tax and interest rate policy. That's not what I got. Greenspan theorized ... and bridges, more generous unemployment insurance, and tax credits hardly constitute "audacious [more...]
Date: 2009-01-12 18:01:00
UAE banks assigned negative outlook
Financial Times: Moody’s Investors Service, the credit rating agency, has placed the United Arab Emirates banking sector on a negative outlook, ... . However, the credit rating agency added that UAE banks generally enjoy strong economic fundamentals, were ... . ... Tightening credit conditions, liquidity constraints, a collapse of regional equity markets [more...]
Date: 2009-01-15 16:23:15
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