Comments for Credit Card Help Topics

Comment on Come Clean About Bad Credit Before You Marry by Ann

Ann — Tue, 13 Dec 2011 03:44:46 +0000

trying to recover from a recent bankruptcy, had no other choice, 30,000 in debt after unexpected medical bills, divorce, forced me to look closely at my debt, cut up th cards, get into a program, paying 850.00 a month to no avail, I was just getting deeper and deeper. Ive learned a lot about credit and I know I must rebuild it as soon as possible, my credit is now ruined for 10 years, how do I begin to rebuild it, I know how to rebuild my credit score I have done that by paying bills on time, but now I have no credit to pay on time except for my mortgage, I am told that getting a credit card is the best with a low amount to use for credit, low interest rate and by paying it almost off every month. Is this what I need to do, I haven’t used a credit card in 3 years, I think they are tabo, What can I do. if anything.

Comment on 4 Credit Score Tips for a Better Mortgage by Sing

Sing — Tue, 29 Nov 2011 16:09:28 +0000

In #3: you said “For example, if a card issuer is not reporting the card limit on one of your credit cards, it can be a problem”

If i spot such an issue, how would i go about fixing it?

Comment on How Balance Transfers Impact FICO Scores by Jerrie Haaf

Jerrie Haaf — Wed, 23 Nov 2011 17:29:59 +0000

Very nice article. I hope to read more from you soon. Very useful and informative piece of information. I wish I can have more time to read more. Anyways, this article gives me a fresh idea. Thank you so much!

Comment on Credit Card Traps 2.0: What You Need to Know by mike

mike — Wed, 16 Nov 2011 20:29:06 +0000

Why do the credit card companies use traps, hair triggers, fine print and variable rates, when they would still make enormous profits on fixed rates and save an enormous amount of money paying analysts to compute sneaky ways to get more of consumer’s money, save an enormous amount of money on rigorous accounting and book keeping and also if they quit being sneaky and greedy, the default ratio would be substantially lower because once people are screwed, they tend to give up paying altogether. It would work out to the advantage of both creditor and consumer that the credit issuers do things to gain consumers respect with consistency, non-deceptive approach, while profiting a fair amount of money insteady of being greedy hoards. The credit issuers would of course profit less, but infact spend much much less trying to implement their deceptive, filthy greedy strategies to drain consumer’s pockets AND they would have general respect from the population. Consumers are also more inclined to attempt payment when they are behind, if they respect the company and it’s practices instead of throwing in towel all together. Also, if one credit card is in default, it lowers fico’s substantially enough to where the consumer will quit paying ALL their credit cards for lack of insentive. For such educated, highly paid, well dressed, successful analysts, they sure are stupid, unnecessarily complicate things… and above all else lack moral compass. We need a leader in credit services. Leader not being defined as “large” or most profitable, but defined as ethical, moral and fair from a consumer’s perspective NOT a creditor’s perspective.

Comment on 4 Credit Score Tips for a Better Mortgage by Scott Brauer

Scott Brauer — Tue, 08 Nov 2011 05:41:41 +0000

“Window Dressing”?
Paying down or paying off credit cards in NO way can hurt your credit score! 30% of your score is your debt utilization ratio, or the ratio of your revolving debt to your credit limits. Going from maxed out to no debt can boost a score 100 points and is the single best, controllable, and guaranteed way to improve a credit score within 30- 40 day. Nothing in the scoring model has to do with drastic changes in debt load. I’m not sure what his point is here. ” Changes in credit” like closing cards ( because it reduces available credit, reduces credit breadth, and can reduce average age of accounts), and getting new credit ( because it causes inquiries, and reduces average age of accounts) can have huge repercussions on the other hand.

Good article, but the first point is misleading, if not completely incorrect.

Scott Brauer – President Clear Credit Corp

Comment on Expert Q&A: Don't Use Cards for Startup Capital by Montana Budget

Montana Budget — Mon, 24 Oct 2011 11:57:27 +0000

Thank you for another informative blog. Where else could I get that type of information written in such a perfect way? I have a project that I am just now working on, and I’ve been on the look out for such information.

Comment on Goodbye to Cheap Banking? You Bet, Say Experts by Phil K

Phil K — Fri, 21 Oct 2011 02:52:05 +0000

Re: “The Durbin Amendment is solely responsible for the wave of new bank fees.”

No, the BANKS are solely responsible for the new fees. That’s like saying the reason you got food poisoning from a restaurant meal was because your aunt made a face at you.

The Durbin amendment was certainly a key reason why the BANKS *chose* to try to replace their unearned profits in other ways, but the banks have been making RECORD profits these days while most of us struggle to pay for basic necessities.

I’m not crying for the banks. At least not the big ones like Wells Fargo that are A) increasing these fees while already B) making ALL-TIME RECORD PROFITS.

Comment on Goodbye to Cheap Banking? You Bet, Say Experts by Jerod Jones

Jerod Jones — Thu, 20 Oct 2011 12:33:42 +0000

Hopefully this article is wrong. Customers need to walk away from banks that continue to charge this outrageous fees … Small banks will most likely keep their fee lower than the huge banks.

Comment on Goodbye to Cheap Banking? You Bet, Say Experts by PO'd Bank Customer

PO'd Bank Customer — Wed, 19 Oct 2011 23:04:09 +0000

“So are free services at banks going the way of the complimentary airline meal and bags checked for free?”
Marcia, you are either confused or knowingly misleading your readers. Banks have never, ever offered anything or any service for free. In fact, it is the other way around. We, as depositors, afford them their business.