new-ways-bankers-are-spying-on-you: Personal Finance News from Yahoo! Finance
Is this your idea of good customer service?
and, another banking story:
Still thinking your credit card is your prized possession? Count the cost of the small piece of plastic and the temptation to pull it out next time.
What's your debt really costing you?
Showing posts with label Credit Cards. Show all posts
Showing posts with label Credit Cards. Show all posts
Monday, November 15, 2010
Friday, October 8, 2010
Credit Card Roundup
My motto on credit cards is simple: Cut them up and pay them off. The concept is so straight forward that I don't spend much time writing about it. Recognizing that many others are in the process of either paying off these debts or still developing their own personal financial strategies I have included these links that I have found to be informative and thought provoking. Please don't forget the comments as they are often a valuable source of stating the pros and cons of any given topic.
Wednesday, August 18, 2010
New Laws Rock the Debt Settlement World
New Laws Rock the Debt Settlement World
Are you currently or considering working with a debt settlement company? Here is some important information about upcoming legislation you need to be aware of written by Garrett Driscoll of Debt Eagle and published courtesy of Personal Finance By The Book.
Are you currently or considering working with a debt settlement company? Here is some important information about upcoming legislation you need to be aware of written by Garrett Driscoll of Debt Eagle and published courtesy of Personal Finance By The Book.
Friday, May 7, 2010
Reading the signs.
Imagine driving down the road. Not quite sure where you are going you take a couple of side streets than get back on the main road and keep going. There are lots of other cars going the same direction. Along the way the tire blows and a kind motorist stops and helps change the flat. Onward you go. Hundreds of miles pass, lots of ground is covered and the car sputters to a stop. Oh no, out of gas! A neighbor spots your predicament. He brings out a five gallon gas can and gets you to the next gas station. After your pit stop it's back on the road for hours more until you finally reach your destination. A DEAD END SIGN!
What?! How could you have come this far only to reach a DEAD END SIGN?
How many millions of people have reached their dead end sign with using their credit cards? In doing so they have messed up their credit ratings, run out of money, and finally gotten themselves to the end of the road. Now it's time to turn around.
Unfortunately the farther down the road you have traveled the farther it will be to get back but there are lots of others that can help and will keep you company along the way. They can also show you the shortcuts. And as they are passing many are rolling down their windows and telling you "Turn around, dead end ahead, turn around". Some of their blogs are listed at the left.
Have you cut up your credit cards yet?
What?! How could you have come this far only to reach a DEAD END SIGN?
How many millions of people have reached their dead end sign with using their credit cards? In doing so they have messed up their credit ratings, run out of money, and finally gotten themselves to the end of the road. Now it's time to turn around.
Unfortunately the farther down the road you have traveled the farther it will be to get back but there are lots of others that can help and will keep you company along the way. They can also show you the shortcuts. And as they are passing many are rolling down their windows and telling you "Turn around, dead end ahead, turn around". Some of their blogs are listed at the left.
Have you cut up your credit cards yet?
Thursday, April 8, 2010
The American Status Symbol
Picture this….Beautiful woman, handsome man, elegant restaurant. And, at the end of the romantic dinner the bill comes and the credit card gets placed on the tray while the couple smiles at one another.
Or this….Family vacation, smiling kids, loving couple, happy memories. Priceless, and for everything else there is ……..
When did borrowing money become the American Status Symbol? Past generations would have rolled in their graves at the thought of borrowing money for lavish dinners and expensive vacations.
Who was responsible for making borrowing money the American Status Symbol? The banks, of course. They sold the image that borrowing money was the fastest way to the high class life style that appeals to our hopes and dreams. And all this can be yours for only a signature. Can’t get much easier than that. How did they do it? Commercials, of course. Almost a whole generation of Americans is now digging their way out of debt because of fantastic commercials.
Now as we struggle with the bills, cut back on the necessities, and possibly lose our homes the memories are still good but the price we pay is much higher than we expected. And, most of the commercials have stopped. Did you notice that? (Chase does have a new catchy one so watch out before you start singing along. If you start humming "Something tells me I'm in for something good" watch your wallet.)
The American Status Symbol. The Credit Card. Borrowing money. Let’s find something new.
Or this….Family vacation, smiling kids, loving couple, happy memories. Priceless, and for everything else there is ……..
When did borrowing money become the American Status Symbol? Past generations would have rolled in their graves at the thought of borrowing money for lavish dinners and expensive vacations.
Who was responsible for making borrowing money the American Status Symbol? The banks, of course. They sold the image that borrowing money was the fastest way to the high class life style that appeals to our hopes and dreams. And all this can be yours for only a signature. Can’t get much easier than that. How did they do it? Commercials, of course. Almost a whole generation of Americans is now digging their way out of debt because of fantastic commercials.
Now as we struggle with the bills, cut back on the necessities, and possibly lose our homes the memories are still good but the price we pay is much higher than we expected. And, most of the commercials have stopped. Did you notice that? (Chase does have a new catchy one so watch out before you start singing along. If you start humming "Something tells me I'm in for something good" watch your wallet.)
The American Status Symbol. The Credit Card. Borrowing money. Let’s find something new.
Friday, April 2, 2010
Seven GOOD things about a BAD Credit Report.
For years we have believed that one of the most important things about our finances is our credit report. The reason we believe that is because we are constantly deluged through the media with advertisements about our credit score. It makes us feel special when banks send us multiple credit card offers that lead us to believe that we are financial savvy and sound. We believe it because we can go into any car dealer and drive away with a brand new car. We believe it because we have been led to believe it.
WHAT WE FORGET IS THAT EVERYTIME WE USE CREDIT WE ARE BORROWING MONEY and LIVING ABOVE OUR MEANS. I’m tempted to use many exclamation points here but hopefully the capital letters will make the point. If you don’t get anything else out of this post this point is crucial: USING CREDIT CARDS IS BORROWING MONEY. I know we know it with our minds but we don’t get it with our habits. Our attitude has become casual and reflects a play now, pay later lifestyle.
So your credit score is in the tank. How is that good news? You want to get out of debt don’t you? You want to live within or under your means don’t you? So, here is the first good news to help you achieve your goal. It’s the dead end sign before going off the cliff. Here’s seven specific ways that having a bad credit report can be a good thing for you.
WHAT WE FORGET IS THAT EVERYTIME WE USE CREDIT WE ARE BORROWING MONEY and LIVING ABOVE OUR MEANS. I’m tempted to use many exclamation points here but hopefully the capital letters will make the point. If you don’t get anything else out of this post this point is crucial: USING CREDIT CARDS IS BORROWING MONEY. I know we know it with our minds but we don’t get it with our habits. Our attitude has become casual and reflects a play now, pay later lifestyle.
So your credit score is in the tank. How is that good news? You want to get out of debt don’t you? You want to live within or under your means don’t you? So, here is the first good news to help you achieve your goal. It’s the dead end sign before going off the cliff. Here’s seven specific ways that having a bad credit report can be a good thing for you.
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