Credit Cards For Less Than Perfect Credit

Police in Orlando suggest that if you bought gasoline with a credit card in Orlando within the past couple of years, you may want to check your credit card statement closely or call your credit card issuer to make sure you were not a victim of fraud.

They recently busted a major credit card theft ring that most likely affected at least 35,000 unsuspecting cardholders. The way the scheme worked was that the gang of about a dozen thieves installed thin credit card readers or skimmers into the scanning slot of gas pumps. When people inserted their plastic to pay for gas, the skimming device stored their confidential credit card data.

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The Sacramento Bee newspaper reported in early May that according to the major credit rating agency Moody’s, defaults on credit card payments are about to hit their lowest level in 20 years. Credit card defaults will reach a 20-year low by next year, Moodys Investors Service said Monday, as card issuers remain choosier in their lending practices.

For the past few years card companies have dealt with billions of dollars worth or lost revenue due to uncollectible credit card debt. They made it harder to get credit card applications approved, they raised penalties and rates, and they lowered lines of credit for their customers. B

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The Advent of Huge Bonus Miles Credit Card Programs

Credit card companies fight tooth and nail to get each other’s loyal customers, and when the competition heats up it is always good for the cardholder. The most dramatic example of this kind of war to win customers in recent history happened this spring, when innovative card company Capital One fired the first shot by matching up to 100,000 points for anyone who moved mile accounts over to the travel rewards card.

That attracted lots of people who had accumulated miles in other programs and did not want to risk losing them by changing credit cards. In addition to that, the card company also offered a bonus award of 10,000 points to anyone who signed up for the card. T

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The Federal Reserve Clarifies Rules to Project Credit Card Consumers

The Fed recently clarified its rules regarding credit card company promotional or “teaser” rates, requiring that card companies cannot increase a cardholder’s promotional interest rate unless and until the customer is at least 60 days delinquent on their payments.

These promo rates are used primarily as a marketing ploy to entice people to sign up for a credit card, and the deals offered can be really good for the consumer. But if the rate gets changed unexpectedly – before the promised expiration date – then the cardholder loses out on the benefit of the low intro rate.

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More than 100 million Americans carry a balance on their credit card from month to month, shouldering a combined $800 billion in revolving debt. While this is a short-term situation for some, credit card debt keeps piling up month after month for others.

If you’re one of the millions of Americans struggling with credit card debt, take heart. A slew of online services offer great tips and tools to pare down your debt faster. Here are CreditCardGuide.com’s picks for four of the most useful financial management Web sites.

1. ReadyFor Zero.com ReadyForZero.com bills itself as a free online financial tool that lets users track credit card debt, explore different repayment options and create an easy-to-follow plan to eliminate debt. Rea

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Credit card language is scary for the first-time cardholders like me.

Principal? Fixed Rate of Interest? Default rate? Oh my!

Yet these mysterious terms can be mastered and the average young person, like myself, can become a king or queen of credit! Or at the very least, new-to-credit consumers and college students need to be responsible users of credit.

At first, I didn’t see the difference between a debit card and credit card. I mean, it seemed that the same machine swipes either debit or credit in stores. B

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