Tag Archives: Credit Card

Can I settle with credit card company with no late payments?

May 05, 2012   admin   No comments

Q: Pulled credit scores through myFICO, and I have 752 and 779. I have 5 relatively small credit card balances, all under $1,000, and one large one for $17,800. I want to settle with credit card company for around $3,000. If they accept this offer, I would be able to quickly pay off the remaining credit cards. Will a credit card company settle if I have never been late with payments? I do not want to stop paying to preserve my scores. Right now, I am only able to pay the minimum monthly payments, and at this rate it will take forever. At the start of 2010, my salary dropped by $16,000 and I have lived from paycheck to paycheck. And things can get even tougher for me.

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  Tags: Card, Credit Card

Credit Card Act of 2009 In Review (Part 1)

March 29, 2012   Daniel Murphy   No comments

The Credit Card Accountability, Responsibility, and Disclosure (CARD) Act of 2009 represents what is arguably the biggest attempt in history to overhaul credit card industry regulations.

President Obama signed the Credit Card Act in May of 2009. At that time some of the rules went into immediate effect, others kicked in three months later, and all of them were in full force by February of 2010. These include things like how your monthly statement is formatted and the way your card company makes decisions regarding your interest rate.

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  Tags: 2009, Credit Card

Which credit card is best for air miles?

September 20, 2011   Daniel Murphy   No comments

There are hundreds of different credit cards that offer different kinds of rewards for continued use. One of these rewards is air miles which awards you miles for every dollar you spend using their credit card. When choosing a credit card with air miles you must look at multiple features to determine which one fits your budget and also your priorities.

Some credit cards offer you bonus miles just for signing up! The Miles by Discover Card offers you 12,000 bonus miles just for signing up and give you an addition 1,000 for every month you make a purchase. These bonus miles can add up quick and get you a free plane ticket in no time. Another feature that is important is the number of miles awarded per dollar spent.

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  Tags: Air Miles, Credit Card, Miles

Expert Q&A: Silencing Credit Card Sales Calls

July 20, 2011   Daniel Murphy   No comments

Dear Erica, I paid off my credit card debt, but I continue to receive RUDE solicitation calls. How do I remove myself from the source list where they are obtaining my information? Or, how long will it take for me to fall off their prospecting lists? Thanks! Ron

Dear Ron, I must say that I’m curious about the rudeness. Do the callers become irate when you say, “Thanks, but I’m not interested in another credit card?” Do they insult and swear at you? I’m not saying they don’t, just that it’s an interesting conversation to think about.

Before I explain how to stop the solicitations (there are a couple pretty simple ways), I’d like to take a moment to consider the people on the other end of the receiver. Let’s face it,

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  Tags: Calls, Credit Card

Tips for Recent Grads Applying for First Credit Card

July 18, 2011   Daniel Murphy   No comments

Almost half of college seniors graduating this year don’t have a credit card, according to a recent Capital One survey. That’s a steep increase compared to the 22 percent of graduates from 2008 to 2010 who also didnt have a card.

There are good reasons to not get a credit card while in college. Most students don’t have a lot of money and having easy access to credit makes it all too easy to accumulate excessive credit card debt. However, students who don’t get a card while in college might find it harder to qualify for the best credit cards once they graduate – particularly if they don’t yet have a job.

This was the case for Mary, a recent college graduate and current credit card novice. “My parents

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  Tags: Card, Credit Card

Study: Credit Card Issuers’ Fraud Protection Programs Vary

July 14, 2011   Daniel Murphy   No comments

How well you are protected from credit card fraud may depend on which credit card you carry in your wallet, according to a recent study by Javelin Strategy and Research.

The June 2011 study found that while most banks have excellent strategies in place for taking care of fraud once it occurs, most programs are less adept at preventing fraud in the first place.

“Prevention is the granddaddy of all fraud protection, but it is also the hardest thing to do,” says Phillip Blank, Managing Director for Security, Risk and Fraud at Javelin. “But the reality is that prevention has the biggest payback. It pr

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  Tags: Credit Card, Fraud
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