Consumer Report: Debunking Credit Card Myths

Posted by administrator | 13/08/11 | Tagged Credit Card

Consumer Report: Debunking Credit Card Myths
News from WILX-TV:

As you pull them out of your mailbox, credit-card offers can seem so enticing—zero percent introductory interest rates, attractive cash-back options, and no annual fees. It may seem like the ideal time to get a new credit card. But Consumer Reports says be aware that your credit score can be hurt temporarily when you apply for new cards.

Each time you apply for a card your credit score can take a hit, and you might not want to risk that if you’re applying for a mortgage or other significant loan in the near future.

But if you already have a lot of cards, don’t worry. Contrary to popular belief, having several cards may actually help your credit score if you use them wisely.

The more credit you have available, the better it is for your credit score……………. continues on WILX-TV

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N.Y.C. man charged in fake credit card scam
News from The Hour:

Police say he attempted to buy Rolex from jewelry store

NORWALK– A New York City man, who is facing charges for credit card fraud, was arrested again Thursday after trying to use a fake credit card and his real ID to purchase a Rolex watch from a local jewelry store, police said.

Andrew Pollack, 41, of 211 East 70th St., New York City, was charged with conspiracy to commit third-degree larceny and third-degree forgery. He posted $ 25,000 bond and was given a court date of Aug. 12.

Pollack walked into David Harvey Jewelers, 51 Wall St., on Aug. 4 and attempted to use a Capital One credit card to purchase a $ 6,000 Rolex watch, police said. Following the store’s policy for large purchases, an employee made photocopies of Pollack’s ID and the credit card, police said. Although he willingly provided his ID and the credit card, Pollack became nervous after the employee made the copies, and he hastily left the store, according to police.

Suspicious of Pollack’s acti…………… continues on The Hour
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How to Eliminate Credit Card Debt

Posted by administrator | 13/08/11 | Tagged Credit Card Debt

How to Eliminate Credit Card Debt
News from EQuicknews:

Debt is destructive. It destroys lives and families.

In order tо gеt yоur arms around уоur debt аnd eliminate it, you must make sоmе key decisions and develop а plan оf action.

Acknowledge thаt you аre in debt, аnd possibly ovеr yоur head, and wаnt tо gеt оut оf debt оnсe and for all. This mау seem obvious but it іѕ a fundamental starting point.

Let’s put thе goal out there. The goal is tо pay оff аll оf yоur thе credit cards аѕ ѕооn аs possible. The target іs wіthin thе nеxt 1 tо 2 years. The price of еverуthіng iѕ starting tо gо up. The banks аrе sucking уоu dry bу collecting interest and late fees. If yоu аre nоt feeling the pinch now, уou sоon will. You hаve to hаvе а plan. This іs аbout yоur survival.

If you stop paying оn yоur credit cards, twо things will happen:

(1) Your phone(s) will continue tо ring by thе credit card companies and / оr thеіr debt collectors.
(2) Your credit ratings will plummet.

You nеed tо get thіѕ debt reso…………… continues on EQuicknews
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Related News:

Getting Out Of Credit Card Debt To Avoid A Low Credit Score May Be More Of A …
News from Red, White, and Blue Press:

Recent reports have indicated that consumer debt is on the rise, particularly in the area of credit card debt balances, and when coupled with factors like unemployment remaining at high levels despite the fact that the most recent jobs report was deemed by many to be somewhat positive, there are concerns that consumers may need to seek out financial assistance through counseling agencies or debt management services as a way to avoid a low credit score if their financial problems get out of control. Reports on consumer debt released by the Federal Reserve has indicated that credit card spending may be on the rise in the lives of many consumers, but this does not necessarily indicate that these men and women are in a position to handle higher credit card debts at the present time.

Fortunate for some, credit card debt is easily managed thanks to factors like unemployment positions being created, consumers being on a stable financial ground an…………… continues on Red, White, and Blue Press

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A thorough investigation of the history of the credit industry examines the origins of the charge card and the ways in which credit has come to dominate the lives of so many Americans, revealing the methods credit companies use to keep consumer debt at th
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