“The current Credit Rating System needs to be abolished in order to get the U.S. real estate market and overall economy back on positive tracks,” says Phil Mitsch, a real estate examiner. So therefore, he adds, understanding how the Credit Rating System works will give millions of Americans a substantial financial and psychological advantage over [...]
According to a recent Experian National Score Index study, about 14 percent of US consumers have more than 10 credit cards, and one in seven use at least half of their available credit. The study also found that US consumers have an average of four credit cards, and just over half–51 percent–have at least two [...]
A 2009 Sallie Mae study reported that the average college graduate carried about four credit cards by the time he earned his degree. That’s a hefty amount of plastic for a recent grad indeed, which proves that plastic is quite attractive to young adults.
Reporter Steve Rosen shares on Recordnet.com the story of a recent [...]
One of the best ways to save big money on a big loan is to first do your homework and know your own credit standing. This is important because raising your credit score by as little as 40 points could qualify you for a lower interest on a home mortgage, auto, student, or personal loan. [...]
Well that depends on several scenarios, but you should start by asking yourself a rather simple financial question: Which number is greater? The return on your investment or the interest you are paying. For example, a Forbes.com article asks if you should invest $10,000 that you owe in credit debt into a guaranteed 1% interest [...]
The widening of the spread between rewards and non-rewards cards makes this a good time to re-evaluate the relative benefits of rewards credit cards. FoxBusiness.com reports that non-reward credit card offers declined to 14.72 percent from their previous level of 14.88 percent. Meanwhile, reward credit card offers rose to 17.27 percent from 17.09 percent.
Nonetheless, credit [...]
There is a plastic ceiling to some credit cards that will be denied to you no matter how high your credit scores are. They are pretty much invitation-only cards such as the American Express Black card and Chase Palladium card. Both cards are reserved for existing big-spender cardholders. These cards have what is a “plunk [...]
Airline industry woes have made it tougher to hand out generous travel rewards, but at the same time, these challenging times have stimulated creativity in the marketing of airline cards. Also, airlines can at least try to improve the offerings on their own airline credit cards in an attempt to keep their passengers flying [...]
According to the U.S. Census Bureau, American shoppers spent $7.4 billion in family clothing stores to get ready for the 2010 back-to-school season. Families spent another $2.2 billion in bookstores during the same period. It is averaged that an American family of four will spend about $800 to get their kids ready for a new [...]
Forty to 70 percent of transactions, depending on the region, are made with rewards cards, according to Phil Hinke, founder and president of MerchantFeeSavers, a company that helps small business owners understand processing fees. However, it turns out that it costs a merchant more each time a consumer pays with a rewards card than when [...]
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