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Guest Bloggers Are Welcome

New credit card rules add accountability

By: NCR Credit Plus Credit Repair Views: 3674 | Comments: 1 | Votes: 0

In a world where shopping online and booking a hotel or a rental car usually demands plastic, few people can survive without a credit card.But vast changes in credit regulation coupled with a souring economy turned 2009 into the most turbulent credit year in decades, with a record number of rate hikes, consumer cancellations and changes in fees, terms and credit limits. More

10% of underwater homeowners would walk away,

By: NCR Credit Plus Credit Repair Views: 3139 | Comments: 0 | Votes: 1

Owners with negative equity of 10% or less rarely default, according to researchers from the graduate schools of business at the University of Chicago’s Booth School of Business and Northwestern University. In "Underwater and Not Walking Away: Shame, Fear and the Social Management of the Housing Crisis," University of Arizona law school professor Brent T. More

Rates on 30-year loans set record low

By: NCR Credit Plus Credit Repair Views: 3139 | Comments: 0 | Votes: 1

The average interest rate for a 30-year mortgage dropped to a record low of 4.71 percent this week, pushed down by an aggressive government campaign to reduce borrowing costs.The rate, published Thursday by Freddie Mac, is the lowest since the mortgage finance company began tracking the data in 1971. More

How Visa, Using Card Fees, Dominates a Market

By: NCR Credit Plus Credit Repair Views: 3098 | Comments: 0 | Votes: 1

Every day, millions of Americans stand at store checkout counters and make a seemingly random decision: after swiping their debit card, they choose whether to punch in a code, or to sign their name. Mitch Goldstone, in his digital photo-processing shop in Irvine, Calif., is part of a suit against Visa and MasterCard. Competition, of course, usually forces prices lower. More

FICO - How your score affects you

By: Academix Credit Repair Views: 3013 | Comments: 0 | Votes: 0

Throughout the years, mortgage rates have varied by loan-to-value and by term only. Items such as mortgages and variation in credit risks were not taken into consideration. A variation in interest rates was typically due to an additional charge for mortgage insurance (PMI) for home loans with loan-to-values greater than 80 percent, or higher rates due to the length of amortization. More

Painful notice: credit card payment hiking

By: NCR Credit Plus Credit Repair Views: 2625 | Comments: 0 | Votes: 1

Q: Dear Debt Adviser, I have paid off most of my credit cards in the last few months. I still have a debt with one creditor for $23,000 that I have been paying on time, and I always pay more than the minimum. I just received a notice that the minimum credit card payment is going to be increased to 5 percent of the balance, starting in August. What should I do? More

How Do the Credit Bureaus Interpret Your Score ?

By: NCR Credit Plus Credit Repair Views: 2555 | Comments: 0 | Votes: 1

You may have worried many times about what your score is, and how to keep it at the optimal level. Do you however, know how the credit bureaus interpret or calculate your score? This is why it's extremely important for you to pay your bills on time. Every time you are late with a payment, you are hurting your score. Your credit history accounts for 15% of your score. More

Medical Identity Theft

By: John Bresnahan Credit Repair Views: 2502 | Comments: 0 | Votes: 0

With identity theft on the rise these days, most of us are already taking steps to protect ourselves. But did you know that there’s now a growing form of identity theft known as “medical identity theft” that can not only devastate victims’ finances, but also compromise their health, too. What is Medical Identity Theft? Why Should You Be Concerned? More

Renting good credit may become history

By: Kenneth R. Harney Credit Repair Views: 2354 | Comments: 0 | Votes: 1

WASHINGTON – The days may be numbered for dozens of Internet-based companies that promise to quickly boost FICO credit scores by 200 to 300 points. Fair Isaac Corp., the developer of the widely used FICO score, soon plans to introduce key changes designed to derail schemes that transplant high-quality credit card histories into the files of people with low FICO scores. Kenneth R. More

I have no credit, but I want to build credit

By: NCR Credit Plus Credit Repair Views: 2217 | Comments: 0 | Votes: 1

I have NO credit, but I want to build credit. I am just about to graduate college with two degrees and I need to build credit.Answer:If you have no credit and want to build your credit history, then secured credit card offers can be an ideal option for you. More