Your life style can hurt your credit!!!
Filed under: Banks, Credit, FICO, Interest Rates, Spending, Wal-Mart
According to an article on Money central, the credit card companies are using all kinds of info that they’ve collected about you to lower your credit limit and since lower limits mean higher utilization and lower credit scores, where you shop can lower your credit score. There’s several other factors that they use that should anger business owners, state officials and every person who uses credit. Here’s a few
What you buy
Where you shop
If people who were victims of the subprime loan mess happen to shop there
If you live in a state hit hard by foreclosures, such as Florida, Nevada and California
Would these last 2 mean that shopping at Wal-Mart in Florida, Nevada or California would lower your credit limit since they are the largest retail store and most likely subprime borrowers shop there?
The full article is here. Can your lifestyle hurt your credit?
I just read this article on Yahoo and the thing that interested me the most was the part about people feeling a sinking feeling when they see how long it’ll take to pay off their balance. It’s not like everyone hasn’t heard that it’ll take forever to pay off a balance by paying minimum payments, so either the people who will get the shock, weren’t paying attention or were in denial.
The article also covered ways that the law backfired like:
New CRL Report: Credit Card Issuers Use Loopholes to Bypass New Rules Intended to Curb Abuses
Filed under: Banks, Credit, Education, Fees, Interest Rates, Uncategorized
I think we all expected the credit card companies to find loopholes and continue to abuse the American people so finding this US Newswire article didn’t really surprise me.
New CRL Report: Credit Card Issuers Use Loopholes to Bypass New Rules Intended to Curb Abuses
According to a report from the Center for Responsible Lending, the credit card issuers are making it all but impossible for the average person to know what the real cost of their debt is.
Some of the items that were mentioned were
Dave Ramsey Love and Money
Filed under: Credit, Dave Ramsey, Education, Finance, Saving, Spending
This is a great episode. I hope you enjoy it.
Start Late, Finish Rich
Filed under: Books, Education, Finance, Money, Saving, Spending
Tis the season for resolutions.
A lot of people will make the resolution to read more and learn to take control of their finances.
Here is a good book that I recently finished and it fits 2 of my requirements for a good book. It was easy to read and contained some really good information.
Limited Time $40 to Invest at Lending Club
Filed under: Bonus Money, Free Money, Lending Club, Saving
For a limited time, Lending Club will give you $4o to invest in Lending Club. I’m currently getting 16.22% on my investment so it’s worth checking out.
Get $40 Free from Lending Club
Peta Kills Animals
2 warnings about this post.
1. It’s not about money
2. It contains profanity
I usually restrain my self while writing because I don’t know who is going to read it and I don’t want something I said today coming back to haunt me 5 years from now, BUT not today…today the gloves are off and I’m disgusted at the hypocrisy of PETA.
If you click the Read More link, you’ve been warned.
Debit Card Overdrafts Generate Massive Profits
I just read an interesting story that says that banks collect more in overdraft fees from debit cards than they do in profit. The article points out that some banks make it difficult or impossible to opt out of the service. There’s a lot of mixed reactions about this article and I have mixed emotions about this myself.
HP Update (Dead Again)
As many of you know, I had a problem with my HP notebook not too long ago. Seems Nvidia had a problem with defective chips and HP as well as others used them in the motherboards of a load of notebooks and desktops.
Now you may be asking what did HP do to resolve the known problem?
Wal-Mart and creative math
According to an article that MSN had The Price Of Wal-Mart Coming To Town, Wal-Mart has an interesting way of doing math. They promise an increase of taxes and jobs but none of the supporters that I’ve read subtract the local jobs that have been lost. It’s like they are using a broken calculator. It was probably made in China.
NAKED RETIREMENT
Naked Retirement strips down the old traditional models of retirement planning and replaces the it with a more creative and intuitive one that helps people take control of their retirement planning, saving, and investing.
The book details the evolution of retirement and uses it to help baby boomers and retirees understand why they are behind in saving and what they can do about it.
"Retirement planning can no longer be one-dimensional, focused exclusively on merely providing information such as how pensions or a 401(k)’s work. It needs to extend beyond financial planning to include aspects of health and social issues that will impact future retirees," according to author, Robert Laura.
Billed as the ultimate defense against the scary, anxious, and stressful feelings people get on their first day of retirement when they have only a financial plan full of numbers and charts to guide them, Laura simplifies the mental and emotional aspects of retirement planning with thought-provoking questions about your definition and approach to retirement as well as important retirement conversations that foster strong relationships in retirement.
The book culminates into a one-page Naked Retirement plan that will help people as well as planners successfully estimate retirement preparedness and future success.
Book is available at NakedRetirement.com and is emailed in pdf format directly to participants.