Credit Information

Credit Cards -- What You Should Know

There are a lot of questions about using credit cards. Here's some important points for you:

A quick look around on the Internet this morning shows that more than 9 million people in the UK do not pay off their credit card balances each month. (The principles of what follows are the same in the USA, or wherever you are right now.)

The average balance left outstanding is over Ł1000. The interest charged on such a balance varies according to the card, but we have seen rates of up to 29%!

When you bear in mind that banks are offering somewhere in the region of 3% interest on account balances, it's easy to see how such a fantastic amount of money is turned over within the banking and finance industry!

Consider a card with an average outstanding balance of Ł1000: with an interest rate of 19%, this could take over 20 years to pay off at minimum payment levels! On a balance of Ł1000 at 19% for 20 years, you'd pay back a total of Ł3889.

Credit cards are a tool designed to make a profit for those who issued them. They are not provided for your convenience! The only way it makes sense to use a credit card is to only use it up to a point at which you can pay the full balance each month.

In other words you are using it to access money you already possess, and not using it as a form of loan. To use a credit card for a loan is going to be some of the most expensive credit you will ever encounter.

I know that life isn't always easy, and some people will say they need to use a credit card to get by. This is the worst position you could be in, and it is really important that you do something about your financial circumstances if you are in this position. Continuing along that path will steadily and inexorably lead to financial disaster.

Nobody said it's easy! But I would be doing no service at all if I avoided the facts, even if it's not what everybody wants to hear.

Another unwise use for a credit card is to get a cash advance from an ATM machine. whereas with purchases on the credit card there is an interest-free period up until the next payment is due, there is no such period of grace for cash withdrawals. Use a debit card instead.

And be aware of the deal with store cards. These can typically carry some of the highest interest rates around. Any savings are often have wiped out by the fact that you are encouraged to buy more then you otherwise might have, and even if they are genuinely savings, they are typically dwarfed by the total interest when the balance is not paid in full.

Use your credit card wisely, use it to your advantage, and get on the right side of the credit card game.

David Andiers is the owner of RF Credit which is a premier resource for credit information. For more information, go to:

70% of Americans with credit card debt admit they can't pay it off this year  CNBC

Only about 30 percent of Americans with credit card debt believe they'll be able to pay it off this year, according to a new survey by the real estate site Clever.

The 3 biggest mistakes people make around credit card points  CNBC

When it comes to points, earning them "is really easy," says points expert, Brian Kelly, but, "spending them — this is where it gets tricky."

What to Do About Fraudulent Credit Card Charges  U.S. News & World Report

Federal law limits financial losses when your credit card goes missing, but you still must take steps to protect yourself from identity theft.

Facebook moves to stop discrimination in housing, employment and credit ads  NBC News

Facebook will create the portal as part of a settlement with civil rights organizations and labor groups that had accused the company of enabling discrimination.

Use credit card rewards to help your love life — here's how to do it  Mashable

Match and eharmony may have changed how 21st century couples meet, but a healthy love life still depends on spending time together. The thing is though, ...

A Credit Union’s Guide to 3D Secure 2.0  PaymentsJournal

One of the biggest misconceptions about the original 3D Secure (and its many monikers) is that it covers all types of eCommerce transactions. But, being.

Debt collector indicted on charges he tried to bribe court clerk offices - including Brevard County  Florida Today

A Chicago grand jury indicted the 67-year-old owner of a debt collection company on charges he targeted court clerks in Florida — including Brevard County ...

Ex-Mississippi credit union leader admits taking $350000  Washington Times

A former vice president of a Mississippi Gulf Coast credit union says she embezzled more than $350000.

Credit Suisse raises S&P 500 forecast, sees 20% gain for 2019  CNBC

Underneath the stock market's epic rebound has been a "more favorable" trend that Credit Suisse says will drive the market higher.

The Coming Crisis The Fed Can't Fix: Credit Exhaustion  Seeking Alpha

Having fixed the liquidity crisis of 2008-09 and kept a perversely unequal recovery staggering forward for a decade, central banks now believe there is no crisi.

Local News How to get your free credits from Spectrum 10:55 AM, Mar 19, 2019  WKBW-TV

Cable and internet provider Charter-Spectrum is starting to roll out a one-time credit to internet customers.

11 reports of credit card fraud in Bossier  Shreveport Times

The Bossier Financial Crimes Task Force has received 11 reports from local residents of credit/debit card fraud that occurred over the course of the weekend.

Credit union to keep historic Hackley Union bank vault in downtown branch

MUSKEGON, MI – A historic downtown Muskegon bank building will keep its “huge” vault when it becomes home to a credit union this year. Family Financial ...

Can credit unions get airplane loans off the ground?  Credit Union Journal

This is the third story in an ongoing series on niche consumer lending products at credit unions. The first two installments are available here and here.

Ex-President of Kansas Credit Union Admits Embezzlement  U.S. News & World Report

TOPEKA, Kan. (AP) — Authorities say a former president of a credit union in Topeka has pleaded guilty to embezzlement.

Taxes From A To Z 2019: E Is For Earned Income Tax Credit (EITC)  Forbes

It's my annual “Taxes from A to Z” series! This time, it's Tax Cuts and Jobs Act (TCJA) style. If you're wondering whether you can claim home office expenses or ...

How a Monthly IRS Tax Refund Could Pay Your Rent  CityLab

The 2020 Democratic Party hopefuls are both planning bills that would create a tax credit for housing rental assistance every month. How would that work?

Will banks turn the tables and buy credit unions?  American Banker

More than 20 banks have been sold to credit unions. A prominent banking lawyer made the case at this year's ICBA convention that banks can become more ...

Financial Home Improvement Options with Navigator Credit Union  FOX10 News

Click here to view this video from .

Former credit union vice president accused of stealing $350,000 pleads guilty  WLOX

JACKSON COUNTY, MS (WLOX) - A former vice president of Singing River Federal Credit Union is accused of stealing more than $350,000 from the credit ...

Dave Ramsey Dave Ramsey says: After breakup, have name taken off joint credit card

After a woman breaks up with her boyfriend, Dave Ramsey recommends she call the credit card company immediately to have her name taken off a joint ...

Slate Money Travel: What’s the Point?  Slate

Slate Money Travel on credit card points.

Virginia credit union to set up shop on Northeast Side for San Antonio regional center  San Antonio Express-News

Virginia-based Pentagon Federal Credit Union has bought nearly 30 acres on the Northeast Side to house more than 500 employees for its San Antonio ...

Sephora launches its first-ever credit card rewards program. Here's what to know.  Grit Daily

In just a few weeks, dedicated beauty aficionados will have the opportunity to consummate their undying allegiance to the prestige beauty retailer in a very ...

MOVES-Barclays hires Credit Suisse internet banker  Reuters

Barclays Plc said on Tuesday it had hired Robert Peck, an investment banker focused on the internet space who previously worked at Credit Suisse Group AG ...

MCC Board meets with top dual credit high schools  KWTX

The top five dual credit high schools in McLennan County met with the MCC Board of Trustees Monday night to look at the program's progress.

Thomas Lee Fires Up Credit Business With Loan Vet Gleysteen  Bloomberg

Private equity legend meets loan veteran meets Middle Eastern sovereign wealth fund. The result: a business targeting some of Wall Street's hottest plays in ...

Maryland’s Pioneering Energy Storage Income Tax Credit Turns 2  Greentech Media News

Given the program's constraints, Maryland officials said they've been pleased with the results of the storage tax credit so far.

Police asking for help identifying suspect in credit card theft from hospital  ABC 57 News

ELKHART COUNTY, Ind.—The Elkhart Police Department is asking the public for help identifying a suspect who is accused of taking a woman's wallet and credit ...

8 under-the-radar credit card perks to help save money

With banks searching for new and innovative ways to retain customers, the competition is fierce. Smaller, under-the-radar benefits can be some of the most ...

Tlaib introduces bill to make auto insurance use of credit data illegal  Detroit Metro Times

U.S. Rep. Rashida Tlaib introduced legislation that would make it illegal for auto insurance companies to use consumers' credit scores in calculating insurance ...

2019 Guide: “What Credit Score Is Needed to Get a Credit Card?”

Perhaps one of the most confusing aspects of consumer credit is that everything is pretty much a case of “your mileage may vary.” Even if two consumers with ...

Tlaib bill would block credit scores when setting car insurance rates  WXYZ Detroit

(WXYZ) — Congresswoman Rashida Tlaib is pushing to lower auto insurance costs. She introduced a bill that would block insurers from using a consumer's ...

New bill plans to outlaw use of credit scores for auto premiums  Insurance Business

A new bill introduced in Congress will make it illegal for auto insurance companies to utilize consumers' credit scores in determining insurance rates. The bill ...

Police try to ID man who used credit card stolen at hospital  WNDU-TV

Police are trying to identify the person who used a credit card that was stolen from a woman at Elkhart General Hospital.

Experian shows Utah's subprime credit average falls lower than national average  ABC 4

3/19/2019 - New data from consumer credit reporting company Experian shows fewer Americans have credit scores that fall into the subprime range (580-669) ...

WANTED: Car burglar tried to use stolen credit card at local GameStop  WBRZ

Deputies are looking for a man who burglarized a vehicle and then tried to use a stolen credit card at a local business.

Colorado company creates app that will detect credit card skimmers  WQAD Moline

BOULDER, Colo. -- A company based in Boulder has created a new app that can detect if there is a credit card skimmer at gas stations. SparkFun Electronics ...

Elyria Council objects to tax credit for homeless housing project because of location  Chronicle Telegram

Richard Carr, director of construction and facilities for EDEN Inc., shows off an artists rendering of an affordable permanent supportive model housing complex at ...

The Chase Sapphire Preferred Credit Card sign-up offer now features 60k bonus points  Android Central

The latest sign-up offer for one of the best credit cards on the market is now available. New cardholders of the Chase Sapphire Preferred Card can secure ...

Do home equity loans affect your credit score?  HousingWire

Despite record amounts of home equity, fewer homeowners are tapping into this source of wealth. While a number of factors contribute to this fact – including ...

Opinion Artificial intelligence, real relationships  Credit Union Journal

Credit unions and banks say their business is a relationship business. So how does artificial intelligence, which sounds impersonal and cryptic, enter into ...

Credit Card Fraud Is Down, But Account Fraud That Directly Hurts Consumers Remains High  Forbes

EMV chips have reduced POS card fraud as expected but fraudsters are moving into new areas such as opening new accounts in a stranger's name, taking over ...

Deputies: Deltona man uses stolen credit card at store where he applied for job  Daytona Beach News-Journal

A Deltona man who pilfered personal items from someone else's car made it easy for Volusia County sheriff's detectives to find him when he used the credit card ...

Stretch Your Dollar: 5 things you may not know hurt your credit score

(WTNH) - You often hear about the importance of having a good credit score and you likely know that paying your bills on time is the best way to improve it.

Heard on the Street: Credit union buys northwest land for $832k

A Rochester credit union has wrapped up a $832284 land purchase to clear the way to build its next branch.

11 cases of credit/debit card fraud reported over the weekend, authorities say  KSLA

BFCU confirms it is among sites where debit or credit cards might have been compromised through the scam.

PD: Four arrested for credit card skimming operation across US  ABC15 Arizona

Authorities say members of a large credit card skimming operation used tiny cameras to record victims using ATMs across the US West.

Police seeking man after woman's wallet stolen, credit cards used at Oakland County stores  WDIV ClickOnDetroit

Police are seeking a man accused of using a woman's credit card at multiple Oakland County stores.

New study highlights just how bad Americans are with credit cards  Yahoo Finance

A new study highlights how Americans manage credit cards and just how stressful credit debt can be.

Home equity expands, home equity credit not so much  National Mortgage News

Home equity is at an all-time high, but consumers aren't taking advantage of this financing option, according to LendingTree.

Police pass Arts Council credit card case to District Attorney  KBTX

College Station police tell KBTX they've wrapped up their investigation into a credit card abuse case involving the Arts Council of the Brazos Valley.

Ridgeland police looking for credit card fraud suspects  WAPT Jackson

Ridgeland police are looking for a man and a woman accused of using a stolen credit card at Northpark Mall. Police say each time, the card was swiped by the ...

Is it time to apply for a new credit card? If you can't remember, it may be time  KGO-TV

SAN FRANCISCO (KGO) -- How long have you had your credit card? If you can't remember, it may be time to apply for another one. Over the past few years, ...

Search for suspects after merchandise bought with local stolen credit card linked to Russia  WTKR News 3

On January 31, a Newport News resident filed a police report in reference to her credit card being stolen and used to make unauthorized purchases.

Synchrony Financial's Credit Card Expands Acceptance Network

Synchrony Financial's (SYF) credit card, Synchrony Car Care, widens its acceptance network of merchants to meet customers' car needs.

Darien Resident Falls Victim To Fraudulent Credit Card Scam: PD  Darien, IL Patch

Darien PD Probes Credit Card Fraud Case - Darien, CT - Someone opened up a store credit card account in the victim's name.

Credit Suisse's Woods Sees Opportunities in China Insurers, Banks  Bloomberg

John Woods, chief investment officer for Asia-Pacific at Credit Suisse, talks about emerging-market stocks, and the trade negotiations between the U.S. and ...

CNH Industrial (CNHI) Signs Euro 4B Revolving Credit Facility

CNH Industrial (CNHI) intends to utilize euro 4 billion credit facility for general corporate purposes and meeting working capital requirements.

Taco Bell employee pleads guilty to stealing credit card info, making 10 transactions  Y-City News

A woman that worked for Taco Bell is accused of photographing a woman's credit card at the fast food restaurant before using the information to make 10 ...

New York Islanders Garth Snow Gets No Credit For Success  FanSided

The New York Islanders are on the cusp of the playoffs and in first place in the Metropolitan division, how much credit does former GM Garth Snow get? None.

LMAOOOOOOOO a Fox News Pundit Really Said This About Slavery I'm Done I'm Done  Splinter

There are so many stupid things on Fox News that it's worth ignoring the vast majority of them. But this one? Hall of Fame stuff!!! Let's bring in Katie Pavlich, a Fox ...

Miami men accused of using stolen card to buy hundreds of dollars of gas  TCPalm

Police said they found two 500-gallon drums in the box truck behind a false wall in the rear compartment of their truck.

Company creates app that will detect credit card skimmers at gas stations  WTVR CBS 6 News

A company based in Boulder has created a new app that can detect a credit card skimmer at gas stations.

S&P/Experian Consumer Credit Default Indices Show Default Rates Remained Stable In February 2019  PRNewswire

NEW YORK, March 19, 2019 /PRNewswire/ -- S&P Dow Jones Indices and Experian released today data through February 2019 for the S&P/Experian ...

RECOGNIZE THEM? WPD seeks suspected credit card thieves  WECT

The Wilmington Police Department is asked for the public's help to identify two individuals suspected of using stolen credit cards in Brunswick County.

Tarry Shebesta of truPayments® to Speak on Soft-Pull Credit Solutions and Alternative Bureaus at the NVLA Annual Conference  Associated Press

This *content* is a press release from our partner Business Wire. The AP newsroom and editorial departments were not involved in its creation.

AM Best Assigns Issue Credit Rating to Brighthouse Financial, Inc.'s New Preferred Stock  Business Wire

AM Best has assigned a Long-Term Issue Credit Rating (Long-Term IR) of “bbb-” to the $425 million 6.6% non-cumulative preferred stock, Series A recent.

Is using a personal loan to pay off credit card debt a good move?  USA TODAY

Personal loans often have relatively high interest rates, but many people take them out to consolidate credit card debt that carried even higher ones.

The College of Southern Idaho will charge more for dual credit classes  Twin Falls Times-News

TWIN FALLS — The College of Southern Idaho will raise the price of taking a dual credit class by $10 per credit next school year.

Police: Man used stolen credit cards at several stores  The Oakland Press

Bloomfield Township police are attempting to identify a suspect wanted in connection with a credit card fraud under investigation.

Illinois’s Credit Problems Are Far From Over  Barron's

Illinois has the lowest municipal credit rating of any state, but it has managed to hang on to its investment-grade status. But that doesn't mean that the Land of ...

Credit to Reynolds for new and improved paperwork  The Gazette

Last week, Gov. Kim Reynolds' office released a new and improved application for restoration of voting rights. Iowa is one of only two states that require felons to ...

Surveillance images show 2 men accused of credit card fraud in Fairfield  News 12 Connecticut

Police have released surveillance images of two men accused of credit card fraud at Home Depot and Chipotle in Fairfield.

Watertown's Credit Rating Good, But Outlook Turns 'Negative'  WWNY TV 7

Watertown's credit rating stays the same, but the company establishing it changes its outlook on city finances to "negative."

DIRECTV NOW Is Offering $30 in Credits If You Stay  Cord Cutters News, LLC

Are you upset with DIRECTV NOW? Do you plan to cancel over the $10 price hike that starts rolling out in April? DIRECTV NOW is offering some customers a ...

Sacramento authorities bust credit card skimming ring  Action News Now

Sacramento authorities busted a major credit card skimming ring.

Authorities say West Coast credit card skimming ring could include Washington victims  KIRO Seattle

Authorities say they have made arrests in a large West Coast credit card skimming ring that could include victims in Washington state.

Southwest Georgia Farm Credit returns $5 million in profits to borrowers  The Albany Herald

BAINBRIDGE — Southwest Georgia Farm Credit, a customer-owned financial institution, announced Monday plans to distribute $5 million of its 2018 profits in ...

Deputies: Man stole purse at SUNY Geneseo, used credit cards  WHEC

A Perry man was arrested for stealing a purse at SUNY Geneseo and using the victim's credit cards...

Is paying your taxes with a credit card a good idea?  CNBC

In general, paying taxes with a regular credit card, without rewards, is not a great idea given record-high credit card interest rates. Here's what you need to know.

62% of Taxpayers Are Clueless About This Valuable Credit For Retirement Savers  Yahoo Finance

You may know that 401(k) funds have a tax advantage, because contributions are taken out of your paycheck before the income tax is withheld and you aren't ...

Opelika Police search for woman suspected of credit card fraud, theft  WTVM

OPELIKA, AL (WTVM) - The Opelika Police Department is currently searching for an unidentified suspect related to a recent fraud and theft case. Police say the ...

SE Asia's Grab makes deeper push into consumer credit, lending  Reuters

Southeast Asia's Grab said on Tuesday it would offer consumer credit and expand its lending to small businesses as part of the ride-hailing firm's big push into ...

Sephora Credit Cards and Rewards Are Coming in Spring – See Details  Allure Magazine

In 2019, Sephora has really been upping its effort to give shoppers a more valuable experience. First, the wildly popular beauty boutique announced changes to ...

How Credit Card Debt Is Handled in Divorce  U.S. News & World Report

You are contractually responsible for any debt that is in your name, but how your credit card debt is handled by the courts depends on where you live.

N.J. stores and restaurants must accept cash under new law banning them from requiring credit card payments

The move toward cashless commerce isn't happening in New Jersey.

The new Real Estate Credit Act: lukewarm protection for borrowers and strong impact on lenders  JD Supra

On 21 February 2019, the Spanish Congress passed the Act 5/2019, regulating real estate credit (the Act), after a long and "tortuous" legislative process.

Man arrested for robbing Community First Credit Union  Appleton Post Crescent

APPLETON - A 19-year-old Appleton man was arrested Friday evening after he robbed Community First Credit Union, according to the Appleton Police ...

Sephora Is Launching A Credit Card Program — & Here's What You Need To Know  Refinery29

Spending money in Sephora is easy. We can't count how many times we've walked into the store to restock our favorite moisturizer and walked out with a ...

Democrats Credit Health Care For House Win And Are Divided On What To Do  The Daily Caller

Months after House Speaker Nancy Pelosi declared "health care won" in the midterm elections, Democrats are divided on what their next legislative step is.

SC residents among those most likely to have mediocre credit scores and subprime mortgages  Charleston Post Courier

South Carolina residents, and millennials nationwide, have some of the nation's worst credit scores.

This Week In Credit Card News: Growing Use of Tap-And-Pay; Why Refunds Are Given With Prepaid Cards  Forbes

What took place this week in the credit card and payment industries.

Ed Secretary Betsy DeVos touts tax credit program for private schools, home schooling in Iowa  Des Moines Register

U.S. Secretary of Education Betsy DeVos led a closed discussion at the Iowa State Capitol Friday afternoon about a proposed tax credit that would fund ...

Hero in New Zealand mosque shooting chased gunman with credit card machine  Chicago Sun-Times

CHRISTCHURCH, New Zealand — When the gunman advanced toward the mosque, killing those in his path, Abdul Aziz didn't hide. Instead, he picked up the ...

West Coast credit card skimming ring busted in Sacramento  KCRA Sacramento

A large credit card skimming operation was busted in Sacramento, the Sacramento County Sheriff's Department said Friday.

Caretaker charged with credit card theft after spending $700 on elderly woman's card: police

BAYONNE — Police arrested a 44-year-old city woman on Friday after an investigation found she spent hundreds of dollars using a credit car she stole from an ...

Police blotter: Home invasion, credit card theft charges in Stamford  The Advocate

The following are recent arrests released by the Stamford Police Department on Mar. 18, 2019. Mar. 16. Recommended Video. Created with Sketch. The top ...

Car burglar steals woman’s purse at Davie cemetery, uses credit card at Walgreens  WSVN 7News | Miami News, Weather, Sports | Fort Lauderdale

DAVIE, FLA. (WSVN) - A woman is demanding justice after, police said, a man broke into her car at a cemetery in Davie, stole her purse and used one of her ...

In its 85th year, Centris credit union plans construction of new $30 million home in west Omaha  Omaha World-Herald

Work on the four-story home begins this spring and is to be done in two years.

home | site map
© 2007