Low Interest Credit Cards

Last week I was planning a major purchase (new living room furniture) that I wanted to put on my rewards credit card in order to earn cash back. The problem? Putting the purchase on my card would place me above that 50% debt-to-available-credit ratio that negatively impacts your FICO score. I was about to call the credit card company and ask them to increase my credit limit when I received a notice in the mail that my credit card company had increased my limit — without my asking! Am I just that lucky? Not at all.

I began thinking about the steps anyone can take to get your credit card company to increase your limit without asking.

This information is especially useful since it’s harder to get companies to increase your limit at your request. Instead, they offer periodic, routine reviews of your account and then decide whether or not to increase your limit. (Be

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Bad credit refers to adverse credit score. Bad credit holder faces lot of issues while applying for or getting loans. Their application get decline because of it. But now days, many lenders are coming forward to provide the loans for bad credit holders. But borrowers pay very high interest rate on bad credit loans. In spite of paying high interest, borrowers can go for bad credit repair.

There are few easy steps for bad credit repair:

1. Always keep an eye on your credit report, if you find any inaccuracy, make it correct urgently.
2. Hire a credit reporting agency to settle any dispute of your credit report.

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I just read Fortune magazine’s article on famed financial forecaster Meredith Whitney’s predictions on the future of credit, of which she says there will be little to go ’round.

In case you aren’t familiar with Whitney, Fortune writer Scott Cendrowski encapsulates her success as such: “Whitney’s warning shot in 2007 made her one of Wall Street’s first analysts to see that bad lending and rating standards across America had artificially raised the U.S. homeownership rate, and that banks weren’t financially prepared for the equally unprecedented rates of consumer default.”

To sum up the article quickly, Whitney says the new Credit CARD Act’s restrictions on card issuers — especially in regard to restrictions on instant interest rate increases — will, in effect, prevent banks from lending “en masse” like they had before.

Her conclusion: small businesses, the unbanked population and consumers who rely on credit cards to make ends meet will turn to predatory lenders and end up paying dearly in fees and interest rates.

But weren’t we already paying dearly for our debt? Read more…

A quarterly review of the total value on granting new credit showed an increase in its value from June of 2009 at R50.92 billion to September of 2009 at R53.73 billion.

NCR – National Credit Regulator claims, “This is an increase of 5.51% compared to the previous quarter, though still a decline of 25.71% compared to the previous year”.

This new value credit update was released by NCR earlier on Wednesday as a part of the fourth Consumer Credit Report. NCR also proudly declared that as there was a drastic decrease in the number of these credit requests being granted, which eventually helped and maintained the credit volume graph over the year 2009.

Reports show a rise in the number of individuals who came forward to apply for loans at 4.13% when compared to the figures in June of 2009. The r

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“Free” Credit Cards now face the possibility of being free. To bring around reforms on advertisements bringing in customers under false pretences, the Federal Trade Commission orders Credit Bureaus to state in their advertisements that the approved site for credit reports is annualcreditreport.com only.

The bill passed is to prevent companies from hoodwinking customers into taking “free” credit reports by misleading them with mass media ads that grab customers with promises of “free” credit reports. The FTC said “Consumers were duped into monthly fees for credit monitoring and other services that many didn’t want or didn’t know they were signing up for.”

John Ulzheimer said customers keep enquiring “Why am I being charged when all I wanted was a free credit report? It’s either because t

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