Archive for the 'Credit' Category
Why Do Employers Check your Credit Report?
February 1st, 2008An increasing number of employers are now checking credit reports prior to hiring someone. Many people do not agree with this, and feel that it is unfair. Afterall, not all people have bad credit because of mishandling their finances.
So, why do employers check your credit?
Employers believe that your credit report explains a lot about your […]
Universal Default Rates and Credit Cards
January 22nd, 2008As you may have already known, credit card issuers have been hitting card-holders with a universal default rate when the consumer’s credit score drops. All the major banks and card issuers have been doing this for quite some time now. However in recent times, big banks like Citibank and Chase have distanced themselves from this […]
Debt Snowball Methodology – Pros and Cons
November 12th, 2007By: Stephen Bishop Jr.
It is safe to say that not everyone has heard of the debt snowball method. In short, it is a debt repayment method for credit cards and other various forms of debt. I hope to explain it in the simplest way possible, and also point out both its advantages and disadvantages.
Okay. Make […]
Bad Week for the Stock Market
November 9th, 2007By: Stephen Bishop Jr.
To say this week has been shaky for the stock market would be a total understatement. On Wednesday the Dow Jones industrial average fell 360 points. Today was no better as the Dow fell another 223 points. The Standard & Poor’s index fell more than 21 points while the NASDAQ composite index saw […]
Students in Debt
November 8th, 2007By: Stephen Bishop Jr.
Today, employers are making it more difficult to get a job without having a college degree. Some do not even consider a person without one. With this said, a college degree is in demand more than ever. In order to pay for college, many take out student loans. To add to this, college […]
Debt Settlement vs. Credit Counseling
October 29th, 2007
If you’re in debt and you’ve done some searching for solutions, you’ve probably heard of these terms before: Debt Settlement and Credit Counseling (Debt Repayment Plan). While these two terms may have similar connotations, there are major differences.
Debt settlement is also referred to as debt negotation. It is the act of hiring a debt settlement company to negotiate […]
American Debt Isn’t So Bad!
September 28th, 2007There seems to be a common misconception floating around - the idea that American households have an average credit card debt of $8,000.
Reality tells a different story. The truth is, most Americans owe nothing to credit card companies, and a majority of the households that do, actually owe $2,000 or less. According to the Federal Reserves, only about 1 in […]
The Credit Card Balance Transfer Game
September 24th, 2007My definition of this game would be: The act of transferring the balance from a credit card to a bank account with the intent to invest or borrow interest-free money. It is also referred to as “0% credit card arbitrage.”
There’s been some debate on how safe “The Credit Card Balance Transfer Game” is. Some people have called it irresponsible […]
The Benefit of having Bad Credit?
September 21st, 2007A couple of days ago, I went to a comedy club, and a comedian said something that was quite funny, yet also very true. He said he recently filed bankruptcy and had terrible credit, but he was glad because he didn’t have to worry about identity theft.
That cracked me up! Even if a criminal had possession of your […]
Subprime Borrowers - Credit Card or Mortgage Payment
June 27th, 2007The Experian Group recently conducted a study where they found out that within recent years, people were more willing to pay their credit card bills on time as opposed to their monthly mortgage payments.
The main reason for this new trend may be due to the increasing number of subprime borrowers who are less worried about foreclosing on their homes. […]
