Five Credit Card Billing Problems and How to Fix Them
It goes without saying that your first and best defense against paying fraudulent or unfair charges on your credit card is knowing what your bill says! When you receive your credit card statement each month, sit down with it and check each item to make sure that you actually DID purchase it. If you do run into inaccuracies or problems, there are procedures to follow to report and deal with the charges. If you don't follow the procedure and the card company decides to notify a credit reporting agency, it could affect far more than just your balance on that one credit card....
Consumer Credit Reports
A consumer credit report is a factual record of an individual's credit payment history. It is provided for a purpose permitted by law: to help a credit grantor or lender quickly and objectively decide whether to grant you credit. Most of the information in consumer credit reports comes directly from the companies a person does business with, but some information also comes from public records.
Credit reporting can be helpful in extreme cases, but it is often misrepresented by collection agencies trying to sell their services....
Credit Damage: Getting Compensated for Your Loss
Until recently lawyers for victims of credit damage had little possibility to collect for damages beyond medical treatment, lost wages and property loss. Insurance companies threw up their hands in sympathy, claiming victims can only be compensated for what can be measured - tangible goods and services. But, what happens when the victim has lost considerable time from work, the family bank is broke and monthly payments on mortgages, car loans and credit cards payments are missed? Regardless of the haggling between lawyers and insurance companies, it's the credit victim who ends up having to live with a bad credit rating....
Top 5 Credit Misconceptions
We have all heard the rumors? from neighbors, relatives or friends. There are a wide variety of myths floating around about what you should and shouldn't do to improve your credit reports and credit scores. The buck stops here! Phelps Creek Financial Coaching has exposed these urban legends to provide you with the truth about credit...
1. Your score will drop if you check your credit - Fortunately, this one is definitely not true. Checking your own report and score is counted as a "soft inquiry" and doesn't harm your credit at all....
Dont Fall for Credit Repair Scams
We've all seen the ads on television or in magazines, shouting, "Erase bad debt!" or "Remove negative entries from your credit report!" If you're a person suffering from a less-than-stellar credit rating, those headlines may seem like the answer to a prayer.
The only problems is, those programs don't work, and to add insult to injury, you'll find yourself paying hefty fees to those companies, only to end up right where you started, or worse. Sometimes, what is couched as a credit repair program may actually be an attempt to steal your identity by gaining information about your social security number, bank accounts, and credit cards....
Applying for Credit Cards Online
In the olden days, about 10 years ago, before the internet, consumers would have to fill in applications for credit cards, loans, mortgages and so on by hand. It's hard to believe now, but this lengthy process was the norm, with requests for extra documentation and references going backwards and forwards, until finally the application was accepted or rejected. These days with the advent of the Internet an application can validated, accepted and a credit card or loan offered with minutes.
The availability of credit card comparison engines has revolutionised the way people look for the credit cards....
Fight Credit Card Fraud with Common Sense
By now, you have undoubtedly heard of credit card fraud, an alarming and damaging trend that is sweeping the country. Here's the bad news: It is disturbingly easy for thieves to obtain your credit card number--usually from discarded receipts or even directly from you. For instance, many solicitors masquerade as legitimate businesspeople--like those who offer vacation packages, for instance--when, in fact, they're looking for you to innocently hand over your credit card number so they can rack up illegal charges....
Credit Problems? Heres How to Manage Your Creditors
If you find that creditors are calling you almost daily or that one of more of your bills has been turned over to a collection agency, you should know how to manage your debts.
First, prioritize then or rank them in terms of the ones that can give you the most trouble the soonest. If you're three months behind on your utility bill and the company is threatening to cut off your power, you must deal with this debt first. Then deal with your other debts in descending order of "threat level."...
How Healthy Is Your Credit
There's only one way to discover the "health"of your credit. You need to examine your credit report. Your credit report is your "consumer identity" that potential lenders will use to judge yourcredit worthiness.
Use these tips to give your credit profile the"tune-up" it needs for 2004.
Tip #1- Check for ErrorsYour credit report or profile is more than just a collection of who your creditors are and how much you owe them or have paid them.
The first thing you need to do is carefully check thatyour credit report is accurate....
Good vs. Bad Credit Debt
Do you know the difference between good and bad credit debt? Most everyone seems to think that all debt is bad, but that is not always the case. In fact, there are some instances where good debt can actually help your financial situation.
The differences between good debt and bad credit debt will affect every loan you get and can even make the difference in getting a new job. Here are a few examples of what determines good debt vs. bad credit debt.
Most mortgages have lower interest rates compared to high interest debt like credit cards....
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