Target Debit Card

When I was a little girl there was a K-Mart about 15 minutes from our house. We would get a number of things there. When Target opened a store down the street from the K-Mart it was the best thing ever. I loved the Target. It had everything. Many years later a Walmart opened. I really didn’t like the Walmart. Target was it for me. I liked Target so much that I had a Target credit card. I don’t remember using my Target credit card at all and then Target upgraded my card to the Target Visa. The Visa arrived … Continue reading →

iPhone App Accepts Credit

I feel like I must sound like a broken record. There’s an app for that. There should be an app for that. I wish there were an app for that. What did we do before we had apps for our smart phones? When I was little there were no cell phones, VCRs, or video games. We had to plan our activities carefully. If we wanted to eat out, we had to get cash at the bank during its open hours or use a credit card. We were able write checks at stores, but most restaurants decided against accepting them. Every … Continue reading →

College Students and the CARD Act

College students all across the nation are getting ready to head off to school, and start a new semester. However, students who are under the age of 21 might not be leaving home with a credit card in hand. This could be a good thing, or a big inconvenience, depending on your point of view. This is one of the effects of the CARD Act. The CARD Act is the Credit Card Accountability, Responsibility, and Disclosure Act, which was signed in 2009. This Act provided a series of protections for consumers, and prevented credit card companies from continuing to do … Continue reading →

TabbedOut iPhone App

When I was a little girl I had my first savings account. Mom or Dad would take me down to the bank to deposit or withdraw money. The bank was open limited hours during the day, shorter hours on Friday, and closed on Saturday. When I was old enough I could ride my bicycle or walk to the branch in our foothill town. Then our bank had the most amazing contraption installed outside; it was called an ATM or automated teller machine. With the ATM customers could do a number of simple transactions without having to talk to a teller … Continue reading →

Fighting Credit Interest Rate Increases

With the struggles in the banking industry, many financial institutions are looking to their credit card branches to help them recoup losses. Traditionally, credit cards are the most profitable venture a bank or lending institution offers. With the high rates they charge both consumers in interest and the merchants in fees, this is usually a win-win for the company. Unfortunately, consumers are being hurt by this crunch. Many credit card companies are now increasing interest rates to help drive up the profits. Even good customers, with strong credit scores and payment history, are receiving letters notifying them their interest rates … Continue reading →

Interest Rates

I have been overhearing some concerning conversations out there – people who are waiting for the interest rates to keep falling. Let us address this misconception about interest rates with a little background. The Fed cuts interest rates by two main factors. The first are the rates charged to the banks when the bank borrows money from the Fed or other banks. The second affects the prime rate – which many unsecured loans are based on. Still, both of these rates don’t necessarily trickle down into the two places people most use debt – mortgage rates and credit card rates. … Continue reading →

How to Cancel a Credit Card

If you read my blog entry yesterday, you may be deciding which credit cards you would like to cancel. I thought it might help to offer up a few tips on how to cancel a credit card. First, there is no wrong way to cancel a credit card account. Still, there are some important steps to follow in the process. 1. Make sure you have paid off every cent on your account before you attempt to cancel. Even if you have a small balance, if you try to cancel the card it can wreck havoc with the credit card company. … Continue reading →

Divorce and Credit

A divorce can affect your credit in many ways. Whether you are divorced, planning to get divorced, or want to protect yourself “just in case,” there a few things to consider. For some, if all the bills have been in one spouse’s name and not the other, you may find you don’t have a credit history. This can hurt one’s ability to get loans after a divorce. This is one reason why it is important to keep some credit accounts in each spouse’s name. It can protect your finances against a variety of ills… divorce, spousal death, disability, etc. Some … Continue reading →

Credit History and Marriage

Often when two come together in matrimony, the question of money and credit will arise. While a husband and wife may love each other, they may not be a match with their credit scores. If one spouse has a significantly worse credit history, does it affect the other? While a couple joins in many ways, their credit history does not have to. Credit reports are entirely individual and so are the credit scores. There is no such thing as a joint credit report or credit score. Even when a couple applies for a loan together, like a mortgage, their individual … Continue reading →

Equal Credit Opportunity Act

What is the Equal Credit Opportunity Act you may ask? Well, Congress passed the Equal Credit Opportunity Act in 1974. It initially developed to protect the rights of women to receive credit. In the early 1970s before the law passed, it was almost impossible for single women to get a loan and married women had to have their husbands co-sign. This act helped make the credit playing field for men and women equal. Later on, the coverage expanded to include all types of discrimination in relation to credit. It now protects your ability to receive credit in regards to sex, … Continue reading →