12 tips to manage credit card debt in 2012
News from Bankrate.com:

credit cards

It’s the new year, and what better way to ring it in than to add a shiny new credit card to your wallet? Here are 12 tips for obtaining a credit card and not misusing it.

Know where you stand

What credit card interest rate and credit limit you qualify for depends on your credit history. But many people have no idea how good or bad their credit is. To keep the surprises to a minimum, pull your credit report from the three credit reporting agencies. You can pull a free credit report from each agency every 12 months at AnnualCreditReport.com.

Smart money tips for 2012

The report will show your account history, including factors that…………… continues on Bankrate.com

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Price of a Credit Card: Paying Expired Debt
News from Wall Street Journal:

No one was more surprised than Thomas Carpenito with the credit-card invitation that landed in his mailbox earlier this year.

The 27-year-old deli owner from White Plains, N.Y., had about $ 10,000 in old debts and a credit rating 200 points below “good.” He recalled thinking the post office had delivered the letter to the wrong house.

Far from a mistake, the offer was part of a controversial and growing partnership between debt collectors and banks that profits both. To get the new credit card, Mr. Carpenito agreed to repay $ 400 on a seven-year-old debt that had expired under New York’s statute of limitations.

“It was totally worth it,” he said. Having no credit cards made Mr. Carpenito feel “like dirt,” he said, especially when out on dates. His new credit card, stam…………… continues on Wall Street Journal

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