Finance Globe

U.S. financial and economic topics from several finance writers.

Bankers Say in February Credit Will be Difficult to Obtain for Consumers Under 21

The credit card law that goes into effect in February, the CARD Act, will make it very difficult for many adults under the age of 21 to obtain a credit card without a parent co-signer or proof of their own income, the American Bankers Association (ABA) said in a statement on Tuesday.“The new credit restrictions will only be effective if education bridges the gap. Otherwise, first-time credit users will be older, but not necessarily wiser,” explains...
Continue reading
  2793 Hits
  0 Comments
2793 Hits
0 Comments

Understanding Credit Card Terms and Conditions

There are numerous credit card companies to consider. You might receive new “pre-approved” letters from credit card companies every week. How do you know which on is the best credit card choice for you? Many of them have something special to offer, and they will always be sure that the most attractive part of their terms will be in eye-catching bold letters at the top of their ad or offer letter. It’s a possibility that a...
Continue reading
  3219 Hits
  0 Comments
3219 Hits
0 Comments

Credit Card Convenience Checks

Convenience Checks Anything that has "convenience" in its name should signal that you're going to pay for that convenience.Convenience foods save time and cost more because of it, convenience fees are added to online purchases for concert tickets, and convenience checks are one of the most expensive ways to access your card's credit line.If you have a credit card, chances are that you've already received some of these convenience checks; they're often mailed to you without...
Continue reading
  3484 Hits
  0 Comments
3484 Hits
0 Comments

Preventing Unauthorized Use of a Credit or Debit Card

Electronic payments are safer than cash.Credit and debit cards are such a convenient way to pay that many consumers use a card for nearly every purchase. And not only are cards convenient, but they're safer than carrying around lots of cash. A cautious person whose paying at the register, with a wallet full of cash, instinctively looks around to make sure nobody has noticed how much money they're carrying. You never see that from a person...
Continue reading
  4223 Hits
  0 Comments
4223 Hits
0 Comments

Credit Limit Reductions

Credit cards issuers have reacted to the credit crunch by slashing credit limits.As credit cards issuers position themselves to prevent further long-term losses originating from the sub-prime mortgage mess, card holders should prepare for the possibility of some unwelcome changes in their credit cards.Card issuers are tightening their lending standards, even with consumers who have responsibly managed their debts in the past. Your FICO score and whether you have the income to support your debts have...
Continue reading
  3239 Hits
  0 Comments
3239 Hits
0 Comments

The Credit Card Protection Program

What is a credit protection plan?A credit protection plan - also known as credit insurance - is an optional add-on with many types of loans, meant to protect your credit in the case that you are not able to pay your bills due to death, disability, or unemployment. Auto loans, mortgages, personal loans and credit cards may offer a credit protection plan to consumers. It is illegal to require you to buy credit insurance to gain...
Continue reading
  3655 Hits
  0 Comments
3655 Hits
0 Comments

Looking for a Credit Limit Increase?

Is there something you'd like to do with your credit card, but are held back by the credit limit? Do you have a wallet full of low-limit credit cards, complicating your shopping and bill-payments? Would you like to transfer your balances, but don't have a card with a limit high enough to make it worthwhile? Are you in the market for a high-dollar item, and want to earn rewards on the entire purchase?A credit limit increase...
Continue reading
  3493 Hits
  0 Comments
3493 Hits
0 Comments

The Student's Guide to Credit Card Use

College is an eye-opening world for many students. While your biggest expense is directly tied to tuition, books, and room and board, you will, no doubt, have quite a few expenses that may not have been figured into the higher education budget. Electronics and gadgets, fashion, parties, and spring break trips will require additional funding. How can you pay for all these extras that are a normal part of college life? Card issuers have the answer...
Continue reading
  3042 Hits
  0 Comments
3042 Hits
0 Comments

The Balance Transferring Act

The credit card balance transfer is popular with credit card users.The balance transfer can offer interest-rate savings on credit card debt. A balance transfer simply means moving debt from one or several credit card accounts to a low or no-interest credit card account. These super-low teaser rates will last for about six months to a year, on average, with most card issuers. A cardholder may be offered a low-interest balance transfer rate by one of their...
Continue reading
  3166 Hits
  0 Comments
3166 Hits
0 Comments

Good Uses for a 0% Introductory Rate Credit Card

Who can resist the offer for an interest-free loan? If you are offered a new credit card with a zero-interest introductory period, it's a good thing to take advantage of.The introductory period on most credit cards can last anywhere from 6 months to a year, or more. When the promotional period ends, the credit card's APR will go up; you should know what that rate will become to avoid any surprises.It's important to read all the...
Continue reading
  3592 Hits
  0 Comments
3592 Hits
0 Comments