Used wisely, credit allows for the convenient purchase of items both big and small. Used unwisely, credit can, and has, led to home foreclosures and bankruptcy. Learn to use credit and debit cards smartly and improve your credit score.

  • Any credit repair company that promises to remove legitimate bad debts from your credit history is lying. Under the Consumer Credit Protection Act, such information remains on your credit report for about seven years.

  • The disappearance of bad credits, if any, is only temporary. For help, check out the National Foundation For Credit Counseling.

  • However, having said that, a good credit score is your passport to competitive interest rates for mortgages, cars, credit card offers, job offers, insurance premiums and more. A strong score is worth it because it saves you money.

  • Go for a card that allows you to manage everything online so you stay under control, like this one www.hsbc.com.au/1/2/personal/services/credit-card-online.


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Debit Cards Usage On The Rise

Friday, December 17, 2010, AM | Leave Comment

Experts say debit cards have outstripped credit cards and checks for some years now. Debit cards continue to play a bigger part in families finances. I guess because of the bad economy, credit card usage has recently seen bad days. Folks were carrying debt in large quantities that they were, at some point, unable to […]



Credit Available To Riskier Borrowers But With Strict Terms

Thursday, December 16, 2010, AM | 1 Comment

Recent news has it that the banks have opened up their treasuries to the general public, even to riskier borrowers but with stricter and tougher terms and conditions. Credit card ads are on the rise after a three-year slowdown. Banks want to make extra money. They want to revive a business that brought them huge […]



It’s Not Just US Ordinary Folks – Lindsay Lohan Owes $600K In CC

Thursday, April 22, 2010, AM | Leave Comment

Media has reported Lindsay Lohan, 23 years old, owes more than $600,000 in credit card debt. I wonder what her problem is. I don’t know how much she is making per movie but she must be making a lot of money. Enough money that she could pay all her debt – her mortgage and credit […]



Protection From Bad Credit Reports

Wednesday, January 13, 2010, AM | 1 Comment

The report about protection from bad credit reports has finally come out after a long wait of 6 years when the U.S. Congress mandated it in 2003. It is a collaboration between Federal Trade Commission and the Federal Reserve. It will affect mortgage and all other loan applicants and home purchasers. Good news for everyone […]



FTC Says freecreditreport.com Ain’t Totally Free

Friday, November 6, 2009, AM | Leave Comment

The Federal Trade Commission is not amused with the company responsible for the popular advertisement in the media promoting freecreditreport.com. FTC has long believed that the company is deliberately diverting people from a government-mandated site where consumers can get free credit reports by law. FTC says the company is using the reports as a lure […]



What’s It With The Poor – Subsidizing The Rich

Wednesday, October 7, 2009, PM | 1 Comment

The poor are subsidizing the rich – say what? Are you crazy? No I am not crazy. Let me explain. A rich dude with 10 credit cards goes into a store and buys stuff using his plastics. The card companies charge the store a certain amount of fees for giving the store the convenience to […]



Will Other Card Issuers Follow Amex To End Gift Card Fee?

Friday, October 2, 2009, AM | Leave Comment

American Express said Wednesday, September 30, it would eliminate monthly fees on its popular gift cards. Will other major card issuers follow? The move certainly puts pressure on them. The company’s decision, which takes effect immediately, goes further than legislation Congress enacted in the spring that would limit, but not eliminate, monthly fees on gift […]



The Sponsor Of A Key Bill Says Banks Need To Be Reined In

Tuesday, May 19, 2009, AM | Leave Comment

President Obama is pressing Congress to pass legislation that will restrain influence of the credit card industry’s practices by Memorial Day. The Senate is currently debating two bills aimed at protecting consumers. One is Rep. Carolyn Maloney’s (D., N.Y.) Credit Cardholders Bill of Rights, which passed the House of Representatives in April by a wide […]



Understand Credit Crisis Visually

Sunday, March 1, 2009, AM | Leave Comment

Searching for banking, credit and finance in general using my favorite search engine, I came across this rather fine explanation of the credit crisis from Jonathan Jarvis. If you have ten minutes and want to understand how we got into this mess, watch the video. Jonathan offers an overview of the credit crisis. If you […]



Consumers Making Bare Minimum Payment

Wednesday, February 25, 2009, PM | Leave Comment

These days, the economy is so bad – no kidding – some credit card issuers are patronizing consumers to just close down their accounts. They are the consumers who have a history of paying the bare minimum on their credit cards every month. These consumers used to be money-making machines for the credit card companies. […]



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