Category: credit

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What’s Next With The Credit CARD Act?

On February 22, 2010, the new Credit CARD (Credit Card Accountability, Responsibility, and Disclosure) Act of 2009 went into effect, which essentially provides more transparency and disallows credit card companies from raising interest rates on outstanding balances without due cause. With the new regulations, credit card companies are only allowed to raise interest rates if they give customers 45 days’ notice of the increase, and they must give customers the opportunity to reject the changes. While this certainly is good news, there are a few potential drawbacks and some unanswered questions.

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How To Request A Credit Freeze From The Credit Reporting Agencies.

Credit freezes are designed to prevent any of the 3 credit companies from releasing your credit report without your consent. When you request a freeze on your report, for whatever reason, you are usually given a PIN number to be used to authorize someone to look at your credit report – whether that be at a car dealer, for a real estate transaction, etc.. The credit reporting agency being asked for your information will contact you for this PIN number and assorted other personal identification, just to be sure that you are who you say you are. After all, if you are requesting a credit freeze, it is usually because your identity has been compromised.

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Updated List Of 0% Interest Balance Transfer Credit Cards.

With the holidays coming up, some of you may carry debt into the new year – but there is no need to pay the credit card companies any interest. If you can transfer your balances to a 0% interest card, at least it will buy you some time to make those payments and not pay a fortune in interest on your gifts! Here are a few updated cards offering 0% Balance Transfer offers…

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After 16 Years, A Credit Card Account Gets Closed Without My Knowledge.

Since 1993, when I was still in college, I have had a credit card with a certain company. Right now they call themselves FIA/IBS, but over the years they have been called various things. Well, as I said I have had this card on my credit report for 16 years, making it the longest line of credit I still have had open – until last week when they decided to close my account without even telling me. The card hadn’t been used in about a year, as I only use my Chase Amtrak rewards card now, but I still wanted to keep the card open (due to how long I had had it) and figured I would use it every once in a while to make sure it stayed that way. But FIA/IBS did not see it that way and proceeded to just cancel and close the account…and the only way I found out was because I called to change the address on the card in preparation of my move to Colorado.

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10,000 Ultimate Rewards Points For Chase Sapphire Card Signup.

This looks like a pretty good credit card if you are into cards that pay our rewards for usage. The Chase Sapphire card lets you use your reward points however you want – for things like paying yourself back for purchases you make, for travel with no blackout dates, or for restaurant dining certificates – and the points you earn have no caps, no limits, no expiration date. (Even my AA card miles will expire eventually, since I don’t fly anymore) You can earn 10,000 bonus points after your first purchase, the card has no annual fee, and you get 24/7 access to live, dedicated customer service advisors. Looking at the details, those 10,000 bonus points could be worth $100 in statement credits, so it’s a pretty good deal right off the top. I am happy with my Chase rewards card, but if I wasn’t and/or I was looking for a new rewards card, I might consider applying for this one too.

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