Credit Card Binding Arbitration: When Ignorance Isn't Bliss
by Rebecca Lindsey
Few people want to go to court, but there are times when it is necessary to preserve your rights and to fight unfair or illegal treatment. Watch out for mandatory arbitration clauses in your credit card agreements, which can prevent you from having your day in court.
Applying for credit cards
by Scott Bilker
Scott, How often can you apply for credit cards? Does it look bad on your credit report if you apply for many credit cards? My husband and I have 5 credit cards. Our credit rating is good, so most of our interest on our cards are between 5 and 7%. We owe $19,000 and I am currently emptying one of our cards so that we can transfer the entire $19,000 using their 2.99% life-of-the balance rate. Thanks to your many tips in your newsletter! Maria
Running argument regarding credit card debt
by Scott Bilker
Scott, My husband and I have a running argument regarding credit card debt. He gets very upset when I look at the offers we receive in the mail to see if the APR is lower then any of the cards we currently have and even think about transferring the balance. I am always interested in the 0% offers, but he says that creditors don't like to see you transfer balances over and over to 0% because it shows that you can't handle the balance "load". Tracy
Credit Card Minimum Payments
by Gary Foreman
Gary, A couple of months ago I read an article about getting finances under control. According to the article, you can double the minimum monthly payment on a revolving charge and that account will be paid in full in 36 months regardless of the amount. How could that be possible? Especially considering how "minimum" most minimum monthly payments are. Gail E.
I am horrified--they want to know what I am going to do with the money!
by Scott Bilker
Dear Scott, I play the zero percent game every year and never ran into this one. Yesterday I did a balance transfer at zero percent to pay down my house. They gave me $20,000, which I will pay back in a year. I was horrified that they asked me what I was going to do with the money. Why all of a sudden do they want to know what I am doing with the money? Greg
High School Students and Credit Cards--A Recipe for Disaster?
by Rebecca Lindsey
Ahhh, school days. Reading, writing, and rooting for your school football team. Hanging out at the mall and surfing the web. Ok, so things have changed a little since you were in school. The current generation of teenagers now has more purchasing power than ever, and companies are spending millions of dollars to get your teen to pay attention to their products.
Calling banks for my 82-year-old mother
by Scott Bilker
Scott, I help my 82-year-old mother pay many of her credit card bills. She's scared to call the credit card companies and I don't want to be added as an authorized user or they will show up on my credit report. Is there a service that she can give a power of attorney to that will call the credit card companies on her behalf? Currently, she is NOT past due on any credit cards--but that will change if we can't reduce these interest rates. Thanks! Brian
Good credit rating but too much debt for low rates
by Scott Bilker
Scott, I just found your website in a book I am reading from the Rich Dad Series. I am in business for myself for 8 years now. I have high CC debt all for the most part business debt. We always pay our bills on time. Recently though the CC companies started raising their interest rates on us and lowering our limits dramatically. Some to the tune of 35%! What can we do? Bob
How Junk Mail Can Save You Money
by Jeffrey Strain
Most people toss out the junk mail that comes in their mailbox never realizing that it can save them hundreds of dollars a year. That's because "junk mail" includes competing offers which can be used to lower the rates you currently pay for services.
How Do You Get that Loan Formula?
by Scott Bilker
Scott, I read with interest your article, Amortized Loans. At the end of the article you indicate the explanation of how to derive the formulae as being covered in another article. Can you please tell me where I can find this? Thank you very much, Luke
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