5 favorite family cars Wednesday August 29, 6:00 am ET Lori Johnston
Cars end up being second homes for busy families; so if you have kids your vehicle will need to have it all -- features that keep occupants safe, entertained, comfortable and, of course, headed in the right direction.
Multitasking moms are finding cars outfitted with technology never before seen: gadgets that provide directions, tools that enable them to safely talk on the phone, video systems with wireless headsets and the ability to watch the kids via mirrors and cameras.
"A lot of this is about helping women do everything they do," says Pam Scholder Ellen, an associate professor of marketing at Georgia State University in Atlanta. "For some women, their car is a means to accomplish many important jobs. All of the technology is there to allow the drivers to focus on what their primary job is -- which is driving the car."Family cars
Hyundai Entourage: This minivan is one of the Insurance Institute for Highway Safety's list of top safety picks (electronic stability control comes standard); named to AAA and Parents Magazine's list of "Best Cars for Families in 2007" for its safety features and low price tag, even with options. Base price $23,895
Honda CRV:
This small-size sport utility vahicle is a newcomer to this year's Insurance Institute for Highway Safety's top safety picks list (electronic stability control comes standard); named to AAA and Parents Magazine's list for its smooth ride and features like reclining rear seats.
Base price $20,600
Ford Edge:
This crossover is one of the Insurance Institute for Highway Safety's list of top safety picks (electronic stability control comes standard); named to AAA and Parents Magazine's list for its cargo area, seats and ride.
Base Price $25,320
Toyota Sienna:
This minivan is on Consumer Reports' list of top vehicles for family travel because of its eight-person capacity and quiet, comfortable ride; named to AAA and Parents Magazine's list for its sliding seats, standard side-curtain airbags and room for passengers and cargo.
Base price $24,155
Lexus RX 350:
This crossover gets a nod on Consumer Reports' list as well as from experts who like its luxurious interior, quiet ride and standard electronic stability control.
Base price $38,800 Note: Base prices according to manufacturer, excluding destination charges, tax, title and registration fees, unless noted.
The minivan market is still a strong one, but there is backlash against the vehicles for being "incredibly dull and just boxes on wheels," says Jack Nerad, executive editorial director and executive market analyst with Kelley Blue Book. That's why crossover sport utility vehicles are growing in popularity -- they offer utility, economy and comfort but with a bit more style, he says
Space is a key factor, from storage to seats. Cars like the Honda Pilot and new Buick Enclave can seat as many as eight or nine people with a lot of cargo space, Nerad says. Russ Rader, spokesman for the nonprofit Insurance Institute of Highway Safety, agrees that the more popular SUVs are coming with three rows of seats instead of two.
If you're driving an SUV or minivan with three rows of seats, you'll want a vehicle with side curtain air bags. Rader says they usually provide protection for the heads of people in all three rows of seats, but other kinds of airbags don't always provide that.
When families look for a new vehicle, women are often the key decision makers and safety is always a top priority, says Rader.
The Institute provides a list of top safety picks that includes several family vehicles, chosen because of their performance in crash tests.
This year, the Institute required that vehicles on the list have electronic stability control, or ESC, which helps drivers avoid accidents. At this point, ESC comes standard in almost 90 percent of sport utility vehicles and in about 60 percent of cars.
"If you're buying a new vehicle, electronic stability control is a must-have feature. It's a feature most people haven't heard of but it's the most important safety feature since seat belts and airbags," Rader says.
What does the SubPrime Crash mean for first time home buyers?The answer to this is more a function of your credit history and financial means. If you have a good, stable job and good credit, the sub-prime crash really won't mean much to you. If your credit record is dodgy, or buying a house (or in NYC, co-op/condo), you might not get the loan. Additionally, many co-op boards are very picky when it comes to financing the purchase and I wouldn't be surprised if many of them have also upped their financial requirements as well. I have heard rumours that the banks aren't writing "jumbo" loans now (>$500,000), but I've found that to be false. Maybe some banks in some part of the country are, but those in Florida and around the NYC area don't seem to have a problem with it. Again, I think the rumour comes from those with less-than-optimal credit. There's a reason it's called sub-prime. Sub = below, prime = optimal. In the past, many of these people wouldn't have been given loans, so yes, we shouldn't be surprised when sub-prime loans fail or default, especially when we're writing loans to people who can barely afford the 4% payments. Let the interest rise up to 8% on their adjustable-rate-mortgage and they're screwed. Blame the banks & mortgage brokers for handing out ARMs to those who can't afford rate increases. ARMs are fine if you have substantial financial means and are using this money for investments or financial management, but for those blue-collar workers who can barely afford $1200/mo for a mortgage payment, it's a total mistake.
How often should you rebalance your 401(k)?You don't want to obsess about it (after all, you have a life to live), but I would recommend at least twice a year. Rather than go through the whole, buying and selling routine, it may be easier to just rebalance with new money. For example, if your bond allocation is below where you want it then direct the 401(k) to put all new contributions to your bond fund, then go back and check a few months later. This has the advantage that you are probably buying the asset which is out of favor right now (that's why it was low). So you can buy it cheap. If shoes are on sale, you probably go out and buy shoes. The same thing applies to stocks and bonds. Buy the ones that are on sale.
What are some important questions to ask home builders when purchasing a new home?First of all, before you speak with the builder, GET REPRESENTATION. Some home builders will not allow you to get your own representation after you talk to them. You want someone who will look out for YOUR best interests so the first thing to do is to find a REALTOR®. They can be a tremendously asset and advocate for you when building a new home. There are so many questions, where to begin... 1) Build vs Buy Existing - In today's market, there are some excellent deals to be had. You might find a much nicer home at the same price as new construction. 2) Production vs Custom - Is the builder a custom builder or a production builder. This is important if you want to make changes or if you want your home to be a true "individual". In other words, do you want your home to look similar to all of the others in the neighborhood? 3) Is the builder experienced in your area? - Building in a cold weather state is far different from building in a hot state. Is the builder experienced with the climate in your area? You want someone who is experienced with the amount of snow, rain, wind, and heat that you are likely to experience. 4) Ask for a list of homes they have built in your area - and then check their references. Ask others who have purchased their homes what their experience was like. 5) Ask about closing costs - What they are, which ones are necessary, and which ones are optional. 6) Financing - What are your options if your financing falls through? 7) Committment - what happens if something prevents you from purchasing the home (what if you get laid off, injured, change your mind)? What do you lose? 8) Warranties - Some states have mandatory warranty periods and others do not. Find out what recourse you have if things go wrong. Those are just a few... Building can be a big headache. Get representation and you should be better off.
Does the Subprime Market Reduce Home Ownership?Most recent commentary on the subprime market looks to removing abuses from that market -- not shutting it down. Underlying this note of caution is an assumption that, while a lot of bad things have happened in the subprime market, on balance it serves a socially useful purpose. While foreclosures are too high, the market has made home ownership possible for many who could not have achieved it otherwise. But this assumption has now been challenged. The Center for Responsible Lending (CRL), an influential consumer group, claims that the subprime market causes a net loss in home ownership. (See Subprime Lending: A Net Drain on Home ownership, available on its Web site.) This implies that, if the subprime market were shut down, home ownership would rise, a startling claim that deserves careful scrutiny.
To determine whether the subprime market increases or decreases home ownership requires a comparison of two numbers. The first is the number of home owners who would not be home owners if not for the subprime market. The second is the number of non-home owners who would be home owners if not for the subprime market. If the second number is larger than the first, which the CRL claims to be the case, the market reduces home ownership. Running the Numbers on Home OwnershipThe CRL measures the positive contribution of the market as the number of subprime loans to first-time home buyers. It measures the negative contribution of the market as the number of subprime foreclosures.
I will use the year 2006 as an illustration because it is the year when, according to CRL, the net loss from foreclosures peaked. Their figures show that in 2006, some 3.2 million subprime loans were made, of which 1.4 million were to purchase homes. However, only about 354,000 of those were to first-time buyers, while about 625,000 subprime loans were foreclosed. CRL subtracts 354,000 from 625,000 to get a net home ownership loss of 270,000.
Parenthetically, CRL ignores the million-plus subprime home purchasers in 2006 who where not first-time buyers. Their focus is on the home ownership rate, and these buyers already owned their homes. However, a balanced evaluation of the subprime market should not ignore its role in enabling existing home owners to upgrade.Market's Contribution Positive, Not Negative
But returning to the main question: Was the subprime market responsible for a net loss of 270,000 home owners in 2006? It was not -- the market's contribution to home ownership was positive, not negative.
CRL's mistake is assuming that every foreclosure of a subprime loan reduces the number of home owners by one, relative to what it would have been had the subprime market not existed. That is far from the case.
On subprime purchase loans that foreclose, CRL implicitly assumes that the borrower could have purchased with a prime loan which would not have foreclosed. Of course that happens, but not very often. Based on my experience, perhaps one purchaser of 10 using a subprime loan could have qualified with a prime loan.
Most Subprime Purchasers Need Subprime Loans
The other 90% of subprime purchasers needed a subprime loan to qualify. Their foreclosure did not reduce the number of home owners because, had they been unable to obtain subprime loans, they would not have become home owners in the first place.
On subprime refinance loans that foreclose, CRL implicitly assumes that the loans would not have gone to foreclosure had the borrower not refinanced into the subprime. This is also true in some cases, but is far from the rule. Most foreclosures are triggered by job losses, illness, marital problems and similar factors that overwhelm the borrower regardless of the type of mortgage the borrower has.
Because deceptive solicitations are more common in refinance than in purchase transactions, perhaps as many as 20% of refinance foreclosures would not have occurred had the borrower not refinanced into a subprime loan. The other 80% would have gone to foreclosure had the borrower refinanced with a prime loan or not refinanced at all.
Applying my estimates, and assuming the distribution of foreclosures among purchases and refinances is the same as on new loans, the 632,000 subprime foreclosures in 2006 accounted for a reduction of about 101,000 in the number of homeowners. That is less than a third of the 354,000 subprime loans made to first-time buyers in that year.
Of course, my numbers are only educated guesses. They may be too high or they may be too low. I would like to see an unbiased effort to dig deeper than I have been able to do. Meanwhile, the widely held proposition that the subprime market makes a positive net contribution to home ownership still stands. Comments : I am not convinced that Nemo is right about "easy credit" artificially inflating home prices. While it is true to home prices have soared in the last few years (especially in California), there is more involved than just demand at play. First of all, housing supply is not as limited as he suggests; with new homes comming on the market in direct connection with the demand. Second, prices will increase durring a seller's market, but that is true no matter the credit worthyness of the buyers. Third, a QUALIFIED borrower is anyone who purchases a home they can afford, it is when people demand more house for less money that they get in trouble with ARM and NegAm loans. Geographically, those places suffering from the highest percent of foreclosures are also those places with struggling economies, as people loose their jobs they are likely to loose their home shortly thereafter. Finally, and I think this is important, rising home value is a GOOD thing. Many of the current problems have come about because borrowers and banks bet that their risky loans would be covered by increases in home prices. They assumed that they would be able to tap into the equity they accrued even though they only made interest payments on their loans. As a first time homebuyer I only wish that the higher price I paid for my home in California will have the kind of 10 year return Mikeaao mentions.Comment 2 : Your accounting is a little oversimplified. You didn't address the effect of "easy credit" including subprime loans on the PRICE of housing. If everyone can suddenly qualify for a loan, everyone borrows. With a limited stock of housing, prices soar. Without that demand, inflamed by irresponsible borrowing and lending, wouldn't buyers have found housing less expensive, and therefore more available to QUALIFIED borrowers?Comment 3 : Absolutely, I agree with Nemo. Homes that we selling here in California's central valley for $80K in 1995 and $125K in 2000 were fetching over $300K in 2005!!! Insanity. This easy credit also made it possible for people to buy large expensive homes they had no business buying.
Can I get rid of my credit card I've had the longest(high interest/anual fee)will it mess up my credit score?
I have 2 other c.c. with 0% interest and no anual fees.I want to get rid of this ridiculous c.c. with an anual fee.
The Answer : Call the credit card company and ask them to remove the annual fee. The interest rate isn't important because you are not going to use it anyway, but you don't want to lose the line item from your credit.
If they won't remove the fee then cancel it. True, your credit score will take a minor hit, but over the next few months it will recover. The trade-off is you won't be paying those fees any more.
This is the only time I ever recommend canceling a credit card.
How does a 28yr old with no credit history start establishing a credit history. Applied for 2 cards & denied!?
Applied for two low end cards and was denied. Will someone give me a chance? Don't really want to get a "secured" card
The Answer : You should be a poster child for this topic....I love to read all the answers about the evil of getting credit when you are young.
By the time I was your age, I have a great job. I bought my car in cash, along with everything else. I saved a lot of money, and when I was ready to buy my home, I planned to put down $20k (this was back in 1978 folks!).
I got turned down! Reason? No credit history. Fortunately for me, I had a loan officer who wasn't a complete idiot and could read past the credit reports.
Start by taking kerdog's advice. Get a department store credit card, and a gas card. Use them regularly and pay them off each month.
Go to your bank (credit union is better) and get a small secured loan. Make the payments, and if you can pay it off AFTER 6 months to establish a credit line. If you can afford it and you have the need, do this again! Secured loans look great on your credit.
It's gonna take several months, but you will easily get a good credit rating if you follow these simple steps.
In what order should I pay off my credit report items? Oldest first? Lowest amt first? To best raise my score?
Looking for the quickest way to raise my score and improve my credit. What if they won't remove item and only mark as PAID? Will this still help?
The Answer : If I understand your question right, you have a bunch of debts listed as negative items on your report, and you want to fix them?
First, understand a couple of things before you even get started. If you don't handle this correctly you are going to not only hurt your score, but you will be spending money that won't help one bit toward fixing it.
The credit scoring system gives more attention to accounts with recent activity on them. As time goes by, they are not as important, and the effect on your score goes down a little. So for the first 3-4 years these negative items are killing you, but after that things improve.
Also note that when you pay off an old debt, they are only required to show "paid" on your credit report. But all of the information about late payments, charge off's and collection is still there. It is still being listed as a negative item.
When you make a payment on an old debt, they will update your credit history as mentioned above, but it now changes the status of your credit item to recent. Even though the debt is paid, this recent negative item will actually hurt your credit scores!
Therefore, you must be very carefull how to handle this. Demand that the creditor DELETE the entry from your credit score before you pay them a dime. And get this agreement IN WRITING!
That said....when you pay off your debts the only real important order is in recent activities. Pay off the most recent debts (make sure they delete them), then work on the older ones.
Note that negative items will automatically be deleted after 7 years, beginning from the date of the delinquency. Therefore, unless you are in a super big hurry to increase your score, don't mess with debts over 6 year old (5 is better). These older debts are not hurting your score to a huge extent.
If you are not referring to negative items....then your question is simple.
Start by contacting the creditor and negotiate lower interest rates if possible. Then pay off the large interest loans first, putting only minimum payments on the low interest cards. Once the largest is paid, apply more money to the next card.
Which credit card is best for me?
I'm an 18 year old college student with virtually no real credit history who wants to build up my credit fast. I make about $600 a month and about $400 of that goes to bills. Which credit card is best for me at this time and why?
Here is the problem with these answers....these folks probably talking from their own personal experiences. They had a credit card early on...screwed up.....
So naturally every young student is going to be as stupid as they are. Don't go it! Big mistake! Credit is evil!!!
NONSENSE!
It's important for young people to begin establishing a credit history.
Many companies are beginning to offer student some special deals on cards.
Take this bank for example. 1st Financial Bank is offering students a credit card deal..
You are given a card with only a $250 credit limit. You pay 0% interest on the first $250, and if you go over this amount you pay (I think) 18%. You only have to pay the minimum and pay on time, and the 0% interest stays.
The company reports to all three credit agencies so you will establish a credit rating. Over time they will gradually increase your credit limit, if you have paid on time and don't run over your limits.
This sort of deal would be perfect for you, but I don't know if it's available to everyone or just through their promotional programs. You would have to contact them.
If not, look around. Other banks are offering student cards. Just don't get crazy with them! Pay on time and you will quickly establish a credit history.
How Can I go about rebuilding my credit and raise my score?I am about to have negative items removed from my credit report and I will still have 2(negative, but paid in full), items remaining. The Answer : If you will still have those two negative items on your credit report, even if they are paid in full, contact all 3 credit bureaus immediately about those 2 negative accounts. Tell them that those are the specific accounts that you are disputing and tell them that those accounts are wrong, that they are now paid in full. Make sure to include information on the accounts such as the account numbers and the name of the company. The three credit bureaus will have to investigate and they will find that you did in fact pay the accounts and they will change that on your credit report to showing that they are now paid in full.Whatever you do, do NOT bother contacting the accounts that you paid in full and asking them to report to the credit bureaus that you paid them. They will just jerk you around and say "oh well, it says in our records that we did report it" when in fact they don't. They got your money and they don't give a crap about the rest to take the time to report to the credit bureaus that you paid them. So you will have to contact the credit bureaus yourself and let them know that it is incorrect.If you don't know, the three credit bureaus are Equifax, TransUnion, and Experian. The phone number to TransUnion is 800-916-8800, Experian is 888-397-3742, and Equifax is 800-270-3435. It probably won't be enough to call them to dispute the information, but you can call and ask for their mailing address. Then you will need to type up a letter to each credit bureau to tell them you are disputing the errors on your credit report.To save you some time getting screwed around by the credit bureaus, I recommend you include with your dispute letter a copy of your driver's license, a copy of your social security card, and proof of your current residency such as a copy of your current utility bills with your name on it.Sorry if it sounded like I ever repeated myself, but I am just trying to save you some hastle in the long run. Because if you don't include all of those things along with the dispute letter right away, the credit bureaus will just screw you around and keep sending you letters requesting more information and it will just take a longer process and you keep having to repeat the information you already sent to them.If you haven't guessed, I have gone through this already. lol But the upside of this is, the sooner you get this done, the better, and if you have any credit cards or other accounts, just keep them up and try to keep as low of a balance as you can and keep paying. Your credit score will improve sometimes within 6 months or so.
What is the best way to lower my debt?I have a consolidated student loan that's about 12,600 dollars. I also have credit card debts totalling around 9500. I have considered getting a loan from Primerica in December (that's when they will have a loan for people like me that don't own a home). I have also considered opening another credit account and moving all debts from other credit cards to it. My third option is getting a loan from a bank. I'm not sure what to do, since my friends don't seem to like Primerica all that much and I don't know much about bank loans or balance transfer on credit cards. My debt is not really that high, just over 21,000 total. However, I am having trouble paying bills, credit card minimums and part of my student loan minumum payment each month (I never have enough to pay the minimum all at once, so I'm behind). What is the best way for me to lower my debt without being severely poor each month?Let me clarify: I am not living beyond my means because that is what got me in trouble in the first place. I am just trying to figure out what would be the better of the three choices I asked about. I can live paycheck to paycheck, but I'm trying to figure out if it would help me to consolidate my debt or not. I'm thinking balance transfers to a credit card is out, so which would be better, getting a loan from a bank or getting a loan from a financial service like Primerica? Or should I stay away from loans?The Answer : The risk with taking on new loans is that often, they end up costing you MORE than the loans they replace because of the term of the loan. (The other risk is that if you pay off a credit card, you're at risk for running it back up again and being worse off than you are now.)You should only consider taking on a consolidation loan if both of the following conditions apply;1 - The interest and the monthly payment on the new loan are both significantly lower than the interest and total payments on the loans/debts it replaces; AND2 - There is no penalty for paying off the consolidation loan early.If those conditions are both met, then you may be ahead by trading your existing debts for a single large one. However, to make this work, you need to pay more than the minimum on your new loan so that it doesn't end up costing you more, over the life of the loan, than you are currently paying. However, you should also know the classic way to get out of debt as quickly and inexpensively as possible:Rank all your existing debts -- your credit cards, student loan, car loan (if any), etc. -- according to their interest rates, with the highest rate as #1. That's your most expensive debt. (As an alternative: if your highest interest rate debt also has the highest balance, consider paying off your debt with the smallest balance first, as that will free up your monthly budget sooner.)Then, do whatever it takes to modify your current expenses so that you can pay as much extra to debt #1 every month -- the object being to pay down this loan as quickly as possible. With luck it should only be for a short time, so consider even modest temporary hardships, it's for a good cause. On every other debt, pay just the minimum (or as much of it as you can).Once you've paid off this debt, add that amount onto the monthly payment for debt #2 and pay IT down to zero. Then when it's gone, put that amount toward debt #3, etc.Get the idea? For example, let's say you have four credit cards with minimum payments of $20, $25, $30 and $35, and that's the order in which you want to pay them down. You've also decided that by giving up one Starbuck's a week you can put another $15 a month into reducing your debt. So this month you pay $20 + $35 to debt #1, for a total of $55. You keep paying just the minimums on the other three, as soon as you can. In ten months you've paid $550 on your debt #1; for the purposes of this example, let's assume that you get this card down to a zero balance, so it's time for debt #2.If you recall, debt #2 has a $25 minimum payment. But you have $55 a month that you have been paying to debt #1, which is now at your disposal. So you pay $25 + $55, or $80, to debt #2. Maybe that's a larger amount, let's keep the math easy and say it's $1600, so it takes you 20 months to pay it off. But you do, and now you have that $80 at your disposal (not to mention any raise you hopefully have encountered in the next two and a half years).Debt #3 has a $30 minimum, so you now have $110 to throw at it. And when it's gone, you can take that $110 plus the $35 a month that debt #4 requires and pay it off at $145 a month.Get the idea now? From a long-term strategic standpoint, you're always best off to pay your highest-interest debt first because it's the one that costs you the most over time. However, you should be able to see from the example that paying your lowest-balance debt first may be better from a tactical standpoint, because it frees up that debt's monthly payment sooner. This gives you more to throw at your second and subsequent debts.As another recommendation, if you don't already have a savings plan, consider this: after you've paid off debt #1, use only half of what you were giving it every month to pay down debt #2. With the rest, set up an automatic deposit into a savings account. Just have it put right into savings before you even see it, and then try to forget that it's there.So in our example, you had been paying $55 a month to debt #1; when you pay off debt #1, consider putting half of that (oh, let's call it $25 a month) into savings. (It's even better if you have access to a 401(k) program at work, because you pay with pre-tax dollars and your employer usually matches you to some extent, but that's another topic altogether.)The other tip: use personal finance software (I use Quicken) to manage your expenses. Not just for keeping track of what you've already spent -- the real power in a program like this is that you can enter future transactions as well. The program will update your balance as far into the future as you want to make entries, so you can see when you need to adjust a date or whether you can add a little more into a debt this month to pay it down faster. (And Quicken also has a debt reduction planner which will work with your exact figures for balance, interest and minimum payment, and it tells you exactly how much sooner you'll be debt-free if you can follow its recommendations.)In any event, the main point behind this classic debt-reduction strategy is that you pay down one debt as quickly as possible, putting whatever extra money you have into that one account while just staying current with your other debts. Then you repeat this with the next debt, and the next, until at last they're all down to zero. Don't try to pay more than the minimum on more than one account per month; that only prolongs the agony.
What is better HDTV or a plasma t.v. and why?The Answer : Well, if your Plasma TV is not HD, then the HD is better. This is because television stations are required to change their format to Digital in the coming years. This means that any TV which is not Digital ready may become obsolete without a conversion device. It is unclear if having Cable/Satellite will allow such a conversion, but if not, then almost all televisons made in the last several years will be difficult to use without a convertor. No solid news as to how much such a convertor might cost.
Home Equity Line of Credit ! What is Home Equity Credit Line of Credit (HELOC), whst is the advantage and disadvantage of that?What is Home Equity Credit Line of Credit (HELOC), whst is the advantage and disadvantage of that? The Answer : A Home Equity Line of Credit is a line of credit based on the precentage of your home you have already paid for. For Ex. you have a loan for $100,000 and you have paid 30,000 of it off and owe $70,000 still. The equity would be the $30,000 that you own. YOu could then take line of credit out on the $30,000 that you own. HELOC interest rates are based on the prime rate on Wall Street posted each month, which means that it changes monthly. Prime right now is on the rise. Recently it has been at 7.75% for the last couple of months and now it is at 8%. The prime rate is then added to what is called the Margin. Your margin is based on you FICO(credit score). The better credit you have the better margin you will have. I have even seen negative margins on some loans. So for example lets say you have a 2% margin and then prime rate is 8%. Your HELOC would then have a 10% interest rate. This is pretty high, but lower than most peoples credit card interest rate. Let's say you have 10,000 in credit card debt and the average interest rate on the collection of cards is 22%. It would be a good decision to take out a HELOC and then use that money to pay off your debt on the credit cards. You would save because of the interest rate. HELOC's have a cap rate of 18% so that would still be lower than the 22%. Unfortunately the down side of this is that the interest rate changes monthly, as well as the payment amount. There are all different kinds of HELOC/2nd mortgages you can get. Some are No Cost HELOC's and don't require you to pay closing costs, but the fine print says you cannot pay the loan off or refinance within a certain time period. Also watch out for prepayment penalties or termination fees. These usually only last for 6 months, but make sure read all the fine print! Also sometimes there is an account maintenance fee that is waived only if you never make a late payment within the first year. If you do miss a payment in the first year you end up paying a maintenance fee yearly for the life of the loan, after the first year you don't have to worry about being late except paying the late charge. You really should try a fixed rate 2nd mortgage right now instead of a HELOC since interest rates are on the rise.
Free Credit Report ! In what order should I pay off my credit report items? Oldest first? Lowest amt first? To best raise my score?Looking for the quickest way to raise my score and improve my credit. What if they won't remove item and only mark as PAID? Will this still help?The Answer : If I understand your question right, you have a bunch of debts listed as negative items on your report, and you want to fix them?First, understand a couple of things before you even get started. If you don't handle this correctly you are going to not only hurt your score, but you will be spending money that won't help one bit toward fixing it.The credit scoring system gives more attention to accounts with recent activity on them. As time goes by, they are not as important, and the effect on your score goes down a little. So for the first 3-4 years these negative items are killing you, but after that things improve.Also note that when you pay off an old debt, they are only required to show "paid" on your credit report. But all of the information about late payments, charge off's and collection is still there. It is still being listed as a negative item.When you make a payment on an old debt, they will update your credit history as mentioned above, but it now changes the status of your credit item to recent. Even though the debt is paid, this recent negative item will actually hurt your credit scores!Therefore, you must be very carefull how to handle this. Demand that the creditor DELETE the entry from your credit score before you pay them a dime. And get this agreement IN WRITING!That said....when you pay off your debts the only real important order is in recent activities. Pay off the most recent debts (make sure they delete them), then work on the older ones.Note that negative items will automatically be deleted after 7 years, beginning from the date of the delinquency. Therefore, unless you are in a super big hurry to increase your score, don't mess with debts over 6 year old (5 is better). These older debts are not hurting your score to a huge extent.If you are not referring to negative items....then your question is simple. Start by contacting the creditor and negotiate lower interest rates if possible. Then pay off the large interest loans first, putting only minimum payments on the low interest cards. Once the largest is paid, apply more money to the next card.
Free Credit Report ! Credit Report question...?I have heard that things fall off your credit report in 7 years...does this include "good standing" credit? Also, does it fall off automatically or do you have to remind the credit reporting agencies?Does the bad standing credit fall off from the date that it was "resolved" (paid) or the original date that it was put on your credit report?The Answer : nyxcat19 is wrong. I find it so funny when people come on claiming to be professionals, and screw up the answer so bad.Negative items stay on your report for 7 years, beginning from the date of the delinqency. PERIOD. They are supposed to drop off automatically. Note, however, that many collection agencies lie about the date, and post a later date in order to keep the item on your report. This is illegal.Charge offs, payments, reporting dates, none of that stuff has anything to do with it. See the source below, as this gives the actual law from the FCRA.Good reports usually stay on for 10 years. If they account is open you certainly don't want that information deleted! It helps your score.
Free Credit Report ! If you were a minor (15-17) and lied to obtain credit, can you dispute it and get it removed from your report?Ok...I must admit. I was young and dumb. I received a credit card when I was 15 very easily over the phone by lying about my age. They even called me! Og course, knowing nothing about credit I did what a 15,16 year old would do - shop. Now at 22 me and my lying has hurt my credit score. It didn't matter to me then but now I have graduate and trying to establish myself. Credit is essential in this process! I was going to dispute this stating that at the time of the contractual agreement I was a minor and it was the cc company's responsibility to verify that my SSN and birth date matched. I read this in a credit forum. Is this true and does it work? Have anyone ever done this? I will never do this sh*t again. I feel depressed and embarrased about my score when I try to obtain credit or a loan now. I need some serious advice. Thanks. First thing first - I had no means of paying for the debt while in school. I have tried to reconcile this but they do not want to work with me. A $800 bill had turned into a $6000 bill and I am not able to pay that. If I wanted to act like a 13 yr old I would just forget about it and let it get removed in 7 yrs (which is in one year). I am just researching my options before I committ to anything. That doesn't sound 13 to me. Thanks for your response by the way.The Answer : Lets start by ignoring the previous answers....another great collection of people who don't have a clue.The key is when you stopped using this card. If you used it after you turned 18, then you are going to be stuck with the debt, and stuck with the credit report. Sorry, I've seen this same thing before.If you quit using it prior to 18, you can dispute this. You will have a bit more trouble getting it done but you can do it. Start be getting the debt validated in order to get records of the contract and bills, and when the debt was charged off. Present this, along with proof of your age, and that will clear it up.But like I said, the key is if you used the card as an adult. If so you will not be able to get around it.
Free Credit Report ! Can you eliminate credit card debt by declaring bankruptcy?Can an individual eliminate credit card debt by declaring bankruptcy? I didn't think you could wipe it out, just get the bill collectors off your back. But, someone told me that it depends on which chapter of bankruptcy you use. The right one WILL eliminate credit card debt. I know someone who has $80,000 in credit card debt and they are trying to do that to get rid of that debt! Is it really possible? Are there any restrictions in doing this. Can you ever get a credit card again if you do it? If you file bankruptcy to eliminate all debt, do you have to give up ALL of your possessions? Will you have anything left?
3 weeks agoThis is for a friend of mine (really). They don't own a home. They have 2 cars and some furniture and A 401k plan. Between the two of them they make about $40,000 a year. I don't see how debt consolidation will help them How could they EVER pay off $80,000!?! They had a house but they used up all the equity in it over the years and sold it recently and broke even on the deal, ending up with NOTHING! What a mess! I just didn't think they could wipe out their credit card debt! And, it really isn't fair to the rest of us that pay our bills!The Answer : There are a number of factors involved. A chapter 13 is where you have to pay back some of the debt. How much depends on what your current disposable income is and how much your debts total. There is a fairly complicate formula involved. But this will stop them from filing judgments, garnishments or liens. It freezes interest and late fees. And it protect your property if you own a home or car.A chapter 7 is called "liquidation" for a reason. You may have to give up most of your property. Therefore, if you have a lot of property along with that 80k in credit card debts, you may have trouble keeping it all.Also, you must pass a "means test". This was put into place to prevent someone who has a very good job from filing BK and dodging their debts. If you earn (generally) over $45k a year you will not qualify for Chapter 7. Again..there is a complicated formula to figure this out.There are a lot of bankruptcy lawyers who have a free consultation. If you think it's necessary talk your situation over with them.
Free Credit Report ! How to get this off of my credit?Heres my story:A few years back my step mom recieved some of my credit info in the mail .. instead of informing me .. i'm about 90% sure she stole my info and opened a credit card.First off .. i'm 29 .. i've NEVER had a credit card in my name.I printed out my credit report today and it says this:Capital One Bank Credit CardDate Open - 2000Due: $1171.00Well, thats about when she stole my info.Like i said, i've never applied for a credit card .. i'm EXTREMELY against having credit cards.Theres a few other suspicious things on my report.URG! Where do i start?The Answer : Where you start depends on whether you want your step mom to be arrested or not.If so, your first step is to file a police report for identity theft. The credit bureau and credit card company won't even listen to you without that, plus an affidavit that you believe your step mom stole it. It will be cleared from your credit report easily. Then, depending on if Capital One wants to investigate a 6 year old fraud case....they will pursue criminal charges. My guess is they won't because of the difficulty in proving their case. They would need to dig up a lot of old records.....But you never know....Or...you can recognize the fact that this debt is most likely beyond the statute of limitations and they can't sue you. It is scheduled to automatically drop off your report after 7 years, so you are already at that point. The problem will disappear by itself, but you will still be stuck with your step mom (sorry). So it just depends on how much family trouble you want to stir up. Personally, if a relative did that to me, I'd fry them .
Free Credit Report com ! Is there a good, honest company that I can pay to correct my credit reports?Years ago I had about 2 years of a credit nightmare. I was young and didn't know any better. Luckily I was able to pay off all of my debts and now only owe my student loans from college, which are not much. I know I can contact the credit agencies myself but my credit reports are so overwhelmingly inaccurate and cumbersome. I am not kidding when I say 95% of my credit report is inaccurate. None of the companies notified them when they were paid off or when they were transferred from one company to another so some of my "debts" are even listed multiple times. When I paid them off it took me forever and my mother's help just to figure out what I owed and now it gives me a stomach ache to even look at it. I did the hard part - paying it off. Now I just want someone to go in, sort everything out, and dispute the inaccuracies. I am willing to pay a good, honest company but I all I keep hearing about is to be wary of scams. Does anyone had experience with this sort of thing? The Answer : Please do this:Take some time to research this and do it yourself. It's not that difficult, and you will have the same amount of success as these "credit repair" companies. They charge a lot of money, but can't possibly live up to what they promise.I will be happy to walk you through the process.The problem is you don't understand the law or how fixing your credit works. In 2003 Congress passed the Fair and Accurate Credit Reporting Act that details exactly what you need to do to fix errors on your reports. If you follow those procedures, your report will be fixed.....or you will have grounds to file lawsuits against those people reporting inaccurate info on your report.Also, Kris's advice is not the best. Never file continuous disputes with the credit bureau, or they will consider then "frivolous" and they will ignore every protest you send thereafter. The law does give them that right. I've seen many people suggest this here on Yahoo.....don't do it!Email me if I can be of help. I am not a lawyer or credit counselor...just someone who likes to get into collection agents faces. I don't charge anything....you couldn't possibly afford my rates anyway.
Best Web Hosting ! How to Determine The Best Web Host For YouWeb hosting is an invaluable tool for both business and personal use. Hosts allow you to use their servers to house your website(s). The web host may also offer tools and utilities to help your site stay operational and interactive. However, you ask yourself, what host is suitable for my website or business? Is this host beyond my budget requirements? What tools do they offer? What does my website need?
Before You Decide
You must determine the needs of your site. Consider how many pages your site is. Also, Make sure you have all of the products you are going to offer to potential customers set up on the site. This will determine how much space is needed for your website. When you are searching for a host, you may want to look at each site carefully and consider what they are offering. Once you have narrowed your search to say, ten (10) web hosts contact them and relay your website's needs to them. Ask about their up-time percentage. Make sure they have a high rate such as, 99.9%. There is nothing worse than a server going down while your site is involved in a transaction.
Consider Your Budget
If the web host offers their plans on a yearly basis, make sure you are ready to pay the fees they ask for. Be sure to calculate the cost for each site. Carefully compare each web host's service accordingly. Make sure you ask the web host about pricing. Make sure you ask about their money back guarantee. Even if it is displayed on their website, it is always vital to make sure. What they say in email, phone conversation and live chat, must be in harmony with what is displayed on their site. Navigate the provider's website for their frequently asked questions. Check for the tools they offer like control panel, Elefante (script Installer), Site Builders, Email (if needed), scripts etc. If there is something you do not understand on their site, ask as many questions as possible. The answer of the host gives you will dictate whether you should consider them or not.
Where to find a web host
There are many website where you can find web hosts that offer what your site needs. Consider these options below to start. The websites below will help you begin your search.
Forums:
http://www.hosthideout.com/Go to the offers section of each forum. There you will find a good start to your search. When considering these resources, ask about the popularity and services of a particular web host. Word of mouth is bet when a customer has used the services of the web host. Each person may tell you whether to avoid that particular host or not. Also, when browsing the forums, look at the participation of the web hosts themselves. Pay attention to how they respond of each member. Why not ask them a few tough questions? Test the waters a bit.
Directories:
http://www.hostingcatalog.com/http://whreviews.com/In conclusion, a business must consider what the site needs before choosing a web host. Also, you need a set a budget in order to price each host. Navigate each site for customer service; frequently asked questions, site reviews and money back policies. We wish the best in your web host search.
How did we get this American Express Black Card?My wife just received a pre-approval form for an AmEx Black Card. We are by NO means wealthy. She DOES have exceptional credit and standing with AmEx. I can't understand how we would be selected for this though. I thought this was an extremely exclusive membership program reserved for the uber wealthy. Any thoughts? The Answer : The Black Card used to be the sole domain of the rich and powerful. While you still can't apply for it and it is by invitation only, you can get it if you have stellar credit, great standing with Amex and you are a holder of either their- American Express® Preferred Rewards Gold Card or to some extent, the American Express® Preferred Rewards Green Card - Business Gold Rewards CardOthers get the Black or Centurion Card as well if they charge around $250,000 on their AMEX cards.The card has a lot of perks -- but check if the annual fee of $2,500 is worth all the perks the card carries with it. If you travel a lot, it sure is a great card with all its rewards and perks
Best Web Hosting ! Free PHP Web Hosting - Where To Find The Best Free PHP Web Site HostingThere are many benefits to a free PHP web hosting service. This article will reveal everything you need to know about php web hosting and the essentials of the best web site hosting service.
PHP was initially developed in 1994 by Rasmus Lerdorf. He created it as a tool to help website designers. What he developed was the ability to allow users to place macros in static html pages and codes. However, it wasn't till 1997 that it became a fully-fledged programming language.
Nowadays this tool is used with Apache in millions of websites worldwide and its popularity is ever on the increase.
How this application works is that it allows users to create dynamic applications and web pages. It allows website developers to insert several states into an easy simple tag. It has numerous multimedia capabilities and is also able to be used with audio streaming.
There are a large number of free hosting companies that offer it. It is often less expensive when compared with other hosting options and it can actually support numerous databases including MySQL and Oracle, just to name a few.
However, there are considerable disadvantages when using a free alternative.
The response may be very slow which could mean they are hosting more domains than they are really capable of managing. This may make it extremely difficult for website visitors to fully access and read your websites.
Another disadvantage is that generally speaking the customer service and tech support is very poor.
Banner ads are also a frequent eyesore on these websites and are a great distraction to your visitors who you are trying to promote or sell to.
While it is proving more and more popular I would recommend that you stay away from a free web hosting service and considerable a reliable but very inexpensive paid service. Some of these services only cost a few dollars a month. However, the difference to your bottom line is truly immeasurable.
For the latest information about the best web hosting options check out the website below today!
Copyright 2007. We've had enough of crook webhosting companies charging the earth and not delivering. For this reason we reviewed a range of web hosting companies that promise the best value for money and superior service. However, NOT all web hosting packages are created equal. Nor do they live up to their claims. Learn the shocking truth about webhosts at my web hosting review site by visiting http://best-web-hosting-services-review.blogspot.com now!
Best Web Hosting Sites - How To Compare And Select A Web HostWhen comparing the best Web hosting sites to choose the top host for your website, you need to consider:
- What operating system you need
- What control panel you prefer
- What type of hosting will fulfill your needs
- What level of technical support you may need
- Where the server is located and how it is connected to the Internet
- Whether past and present customers are satisfied with a host
Operating Systems
The two most common operating systems for Web servers are Linux and Windows. Linux Web servers running Apache for the Web server, MySQL for databases, and PHP and Perl as programming languages are the most common. There are a wide number of applications and scripts available for Linux Web servers. If you need to use ASP pages or you need to use Microsoft SQL server as a database rather than MySQL, however, you should get a Windows-based server.
Control Panels
Most of the best Web hosting sites will provide a control panel to allow you to easily control your site hosting account. Control panels allow you to easily see web site statistics, administer databases, check on server status, and manage email accounts, Web site updates, and access.
Unless you prefer a different control panel, cPanel is probably your best choice. It is the most popular and many Webmasters feel it is the easiest to use. Most of the best web hosting sites offer cPanel as an option.
Types of Hosting
There are a number of different types of hosting:
- Shared hosting,
- Reseller hosting,
- Virtual dedicated hosting (a.k.a., virtual private servers),
- Dedicated hosting, and
- Colocation
Most of the best web hosting sites will offer some or all of these types of hosting, so you need to decide what best suits your needs.
If you want to host a single domain that does not have huge demands for disk space or bandwidth, shared hosting is the most economical. With shared web hosting, your site shares server space and resources with many other websites.
While you may be able to host multiple domains with a shared hosting account, if you need to host multiple domains of your own or want to resell Web hosting, reseller hosting may better suit your needs. Reseller hosting is generally shared hosting with more resources and an additional control panel to easily configure additional domains.
If you have a high need for bandwidth or server resources, you may need a dedicated server. With a dedicated server, you do not have to share server resources with anyone. Only your domains are hosted on the dedicated Web server. You also generally get full control of the server with administrator or root access.
You may also want to consider a virtual dedicated server. A virtual dedicated server is similar to shared hosting in that more than one user is on a server, but each user gets a guaranteed slice of server resources. If another user has a busy site, it should not affect your Web sites.
If you would prefer to own your own server hardware, consider colocation. With colocation, you own the server and the Web host simply provides rack space, network connectivity and bandwidth, and hardware support for the server.
Technical Support
With shared hosting and reseller hosting, your Web host is usually responsible for managing the server, installing server software, applying security updates, and providing technical support (for you, not your customers).
With dedicated or virtual dedicated hosting, a Web server may be managed or unmanaged. Unmanaged is the most common, which means that you are responsible for all server maintenance, upgrades, and patches with the exception of hardware support such as new boards or new drives. Managed support means that the Web host (or a third party management service) will help manage or partially manage the server.
Different hosts provide technical support in various ways. Some require that you email about an issue, some have a support ticket system, and some have a toll-free phone number. Even among the best Web hosting sites, not all offer phone support. But if your Web site is ever down, you may wish you could call and talk to a live human!
Different hosts also provide differing Service Level Agreements (SLA's). Some guarantee uptime. Some guarantee response time on support issues.
Server Location and Network Connectivity
Be sure to consider the physical location of the server and the network details as well. Some servers may literally be in someone's basement. The best Web hosting sites locate their servers within professional data centers with dedicated support people and multiple redundant Internet connections.
Customer Feedback
You should now have a very short list of the best Web hosting sites for your needs. But before making your final decision, there is one last step: perform a Web search to look for complaints from old customers. Your list may have only the best web hosting sites listed, but a few hours spent surfing Web hosting forums and asking a few questions may turn up some surprises and could save you years of frustration!
Mike Adams is the owner of ElectricText, a popular article directory where you can read many more Web hosting articles: http://www.electrictext.com/Category/Web-Hosting/84
Free Credit Report ! Free Credit ReportThanks to the Federal Trade Commission, Experian, Equifax, and TransUnion, the three big credit reporting bureaus, must provide you the consumer with a free copy of your credit report at least once a year. This means that a free credit report is yours once a year, all you have to do is request it. With today’s technologies, it has never been easier to view a free copy of your credit report from all three of the major credit bureaus. What better way to stay on top of your financial goals?
Know what’s in your credit report! There is no charge!
Yes, it’s free to check your credit report. Do you know what’s in yours? If you know what’s located in your free credit report, it will save you time when shopping for a loan or a lease, and money too. Even if you have never dealt with having bad credit, you still need to know what is in your report and check it annually for errors. Errors can damage your financial health and cause a bad relationship between you and your financial lenders.
You can obtain a copy from all three credit reporting bureaus by visiting www.AnnualCreditReport.com. Of course, you can go to their websites individually if you wish, Experian is www.experian.com Equifax is www.equifax.com and TransUnion is www.transunion.com. Be warned that they will ask you to sign up for account with them and offer other services to you. All three can also be contacted through regular USPS mail. The best way to contact all three of them at the same time without being slammed with offers of services they offer is to obtain your free credit report through www.AnualCreditReport.com.
Now you are ready to get a free online credit report! Click Here to get started!
How Do I Get a Free Online Credit Check?
Now that you are aware of the benefits of checking your credit report and score, you are probably wondering "How do I get a free online credit check?" Easy, To learn more about obtaining a free online credit report, visit http://freeonlinecreditcheck.googlepages.com/, an excellent resource on credit reports and your credit score.
Remember, to check you credit score once every year!
Free Credit Report ! Don't Pay For Your Credit Report - Get It Free!Do you want to buy the car of your dreams? Do you want to buy a home with no hassle? Do you want a credit card and the conveniences it comes with? If you answered yes to these questions then read this article carefully because this could be your last chance in getting what you want. The future isn’t here yet and the past is already gone.
The biggest influence we have in time is the present. Taking action now about your credit is the best investment you can do about your financial future. Take the guessing game out of what’s happening to your credit rating. Did you know that a three digit number (your credit score) can literally save you hundreds, or even thousands, of dollars?
Lending institutions use credit ratings to help them decide the “credit trust worthiness” of consumers applying for credit cards, lines of credit, or even personal loans. The applicant’s credit rating will probably be used for calculating whether the applicant qualifies for credit, and if so, what the terms are and most importantly what interest rate the applicant will receive.
Credit ratings are calculated by data in your credit report and change over time because of different circumstances. Many times credit scores change on a daily basis! That’s why it is very important to stay on top of your credit score for changes that could affect you in getting what you want. Other than checking your credit report on a frequent basis, monitoring your credit is the best way to know what is happening with your credit report. The good news is that you can get a copy of your credit report absolutely free. Take this limited time opportunity and scroll down and click the link below to get a free copy of your credit report today.
Dr. Knox Grandison is a full time physician and part time real estate investor. Go to http://myfreecreditreport.blogspot.com to Get your FREE credit score and more!
"Free Credit Report ! Free Credit Report No Credit Card RequiredLooking for a free credit report no credit card required? Credit agencies have to give free annual credit reports if asked to do so. You can learn more about getting your free annual credit reports no credit card required, and by yourself learn to target your ideal score. Keeping a track of your credit score will help you measure what the lending companies are willing to loan you. I have yet to come across somewhere where you get free credit reports, and also get your credit score. Most free credit reports don’t give your score along with the report.
Getting your free credit report is major when you have knowledge and control over your financial information. While obtaining your free credit report you should have no obligation to commitment to anything. If you are trying to obtain your free credit report online, do not use a public computer to access this information. Using public computers to access your free credit report may cause you personal information to be stored on that computer. The free credit report helps people protect themselves from identity theft and fraudulent credit applications. If you see something that appears suspicious, you can contact the credit agency to report it. If you obtain your free credit report annually there would be no reason to go out check it yearly because it will automatically come to you.
Just because you never had a credit card or a loan, doesn’t mean you do not have view your free credit report. The notion is that your free credit report what allows people to use your identity to acquire credit in your name. You always need to check the information to make sure it is correct even if you have no credit. Get your free credit report today!
Join us at http://www.creditmaintainance.info/ Fix your personal credit or build business credit, often times with no personal guarantee. The place to repair credit rating, we are not a credit repair company and do not offer credit repair services, but what we do offer is information on Credit Repair.
Discover Credit ! Someone opened a discover credit card account back in 1989 with my SS# I just got a collection letter.?Saying I owe them almost $8400.00 I had an account with $0 balance which I closed years ago. I got my discover card in 1997. How can I have 2 accounts? They say I opened one 1989. They have 2 different account numbers. The orignal account was opened in 1989 and was being used until 1998.PS the collection agency that sent the letter is National ActionFinancial Services, Ltd. Very rude people I wanted to dispute and they hung up on me? I need free legal help Please....Any suggestions? Please The Answer : First , go to the annual credit report and get a copy of your credit report and see if it is on there. (link below to get it). If it is there, file a dispute on this account stating that it is not yours. Make sure you look the report over carefully because it might not state Discover if the collection agency is the one that filed it with the credit reporting agencies. It also might be on there more than once, from Discover and again from the collection agency. You want to dispute anything related to this card.Next, if the collection agency calls you again, tell them to send you proof that it's your account, in writing and that you will only deal with them in writing and not to call your phone number again.It is entirely possible that this card does not have your SS number on it. It might be someone with the same name and the collection agency just found you and decided you might be the same person. But you need more info and don't drop this. If it is being reported on your credit file, it can screw up your credit.All collection agencies are totally rude so don't even worry about that part. Some people (not you) really are deadbeats and really don't pay their bills. Rude collection agencies is about the only way they can get some of them to pay what they owe.
Why do hardly any merchants accept the Discover credit card?
Even the place that I work at doesn't accept Discover cards... what's going on with that? The Answer : When a merchant makes the decision to offer MasterCard, visa, and American express they contact the bank that they have the business checking account with. MasterCard and Visa have the lowest fees that are charged to the merchant (typically 1.5 to 2.5%) while america express and discover charge the merchants between 4-6% to the merchant. So when a consumer buys $100 from the vender, using midline of visa and mastercard (est) merchant has to absorb the roughly $2 into cost of doing business. The same $100 while using discover charges the vender $5 (est). Each vender has to choose which of these companies they want keep so to insure their cost of doing business down so prices wont need to go up thru price increases to the consumers. I haded a website the may be beneficial, hope it helps!
Discover Credit ! Looking to complain about bad treament from my Discover Credit Card company?For 3 years Discover card was billing for a payment protection program that i didn't sign up for. I kept the account opened but i did cancel the program in August and requested proof of enrollment. As per their policy If they can not provide proof of enrollment they have to refund all the monies I paid to them. Discover did not comply and refuses to produce the proper proof of enrollment. I sent 2 disputes in writing & the 2nd letter was ignored. If Discover doesn't respond to my next letter I looking to complain to the proper regulatory agency. Does anyone have experience in battling these credit card bullies? Looking for names and a point in the right directions such as regulatory agencies etc.?Thanks The Answer : What is Discover saying? If they are saying the enrollment is valid, then they have your voice on a recording approving the charge (by far the most common way this program is enrolled), or your signature on file authorizing this charge. If they do not have this proof on file they WILL credit back ALL the charges. They keep very good track of this info for this very reason. Because the "proof" may include company sensitive information it does require a subpena to get it. The voice recordings are recorded in a program that also captures the sceen print on the computer, containing the company account viewing software. So when you say they fail to provide the proper proof, I believe you. But that means they do have proof, and it is valid proof, otherwise you would have a refund. You can try Small Claims court, Discover will not invoke their right to arbitration if it is less then $5,000 claim. You should total the charges for the Payment Protection/Discover Accountguard. They will mail you older statements to do this, free of charge. If less then $5,000 take Discover to small claims court. If more then $5,000 Discover will force arbitration, and you cannot "sue" them. Contact a Lawyer.
Discover Credit ! Discover credit card?I want to apply for the discover card but not sure if my fico score is good enough. If you have a discover card, what was your fico score at the time? Mines is 720, is that high enough? If so which discover card should I apply for, (Discover Gold or Discover Platinum)? I think the platinum card you have to have excellent credit and the gold card you need good credit. The Answer : I would go for the Discover Platinum Card (or Discover More Card... as it's now called). Your credit score is right on the border line of being excellent. And it seems Discover has loosened their approval guidelines as of late... because approval rates are up. You can find a complete list of Discover credit cards here:http://www.asapcreditcard.com/discover-c...Hope this helps. GOOD LUCK!
Discover Credit ! Discover credit card?I want to apply for the discover card but not sure if my fico score is good enough. If you have a discover card, what was your fico score at the time? Mines is 720, is that high enough? If so which discover card should I apply for, (Discover Gold or Discover Platinum)? I think the platinum card you have to have excellent credit and the gold card you need good credit.tHE aNSWER : 720 is good, but I know there another scoring system call Vanguard. Your score is good enough to get a Discover, but Discover isn't accepted at all place, but its a good start though.
Discover Credit ! How does CD Account with Discover Credit Card Works? Have you Tried it?I was looking at CD Account Option with My Discover Credit Card. They are giving a High interest rate for 3 to 6 month cds with minimum deposit of $2500. I was wondering if anyone have tried it before and how does it work?The Answer : Believe it or not, "Discover" is an actual bank and is FDIC insured. Its a Morgan Stanley company. Basically how it works is that you fill out the online application. You will need a bank account number with the routing number (you should link it to your checking account). Then $2500 will be transfered from your checking to Discover CD account.Though, I found a better bank that offers a higher interest rate for a lower minimum. Its at EmigrantDirect.com and the minimum to open a CD is $1000. Just fill out the online application and have your bank account and routing number ready. I have a savings account with EmigrantDirect, but I don't have the CD yet.
Discover Credit ! What credit bureau does Discover credit card check when opening an account?For those of you out there who have a Discover credit card...which credit bureau did they check? Transunion,Equifax, or Experian when running your credit?The Answer : It really depends on where you live. Credit card companies rarely pull the same credit bureau for every state.Go to the site I've listed and click on Forums. Then look in the upper right corner for CreditPulls, click on that. Then type Discover in the box and put in your state.
Discover Credit ! What fees are involved in discover credit card processing? Is the Credit Card Acceptance Program competitive?I want to apply for discover credit card. what fees are involved in discover credit card processing? Is the Credit Card Acceptance Program competitive? Can I apply if I do not live in the United States or Canada?The Answer : Discover is not readily accepted at all merchants. I used to own a business and we accepted them for a while but it was confusing at times so we dropped them. We only got about 3 a year anyway. Go for MasterCard or VISA. They are accepted worldwide.
Discover Credit ! Anyone got Discover Credit Card?Has anyone got the discover credit card like the platinum or gas card, u guys like it? what's exactly is the two cycle average billing? do u get bill every 2 months instead of one? also which is better deal discover gas card or discover platinum? does discover platinum cover gas as well?The Answer : There are better cash back cards than the Discover Platinum and Discover Gas cards. I used to carry Discover until I found much better rewards cards. I'll get to those in a minute. First, answers to your questions:Discover Gas is the better deal because it offers 5% back on gas and vehicle maintenance up to $1200 per year.Discover Platinum also pays cash back on gas, but at a lower percentage rate: .25% for the first $1500 in spending, .5% for the next $1500 in spending, and 1% back on spending after $3000 (year-to-date).With two cycle average you still get billed every month, but if you're not paying off your balance every month, then you're being charged interest on the average balance you had over the previous two months (rather than the previous one month as is typical with most credit cards).Since rewards cards pay different percentages in different spending categories, have different tier structures, etc., the *best* card for you will depend on your spending profile (how much you spend in various categories each month).An easy way to pick the best card for you is to use the calculator tool at http://www.creditcardtuneup.com/... to estimate how much each of the leading rewards cards will pay you.If you're interested in using two cards to earn more cash back than you could with just one card, the tool will also calculate the best combinations of cards for your spending
I have a small bill in collections, it's only $100, if I paid it off, how much would it help my credit score?The Answer : Don't pay it!!!!!!If the only reason you are paying this debt is to improve your score, you need to understand a couple things.1) When you pay off a debt, all they are required to do is show "paid" on your account. But all of the information about late payments, charge offs and collections will still be there. It will still be a negative item, and it will still hurt your score.2) If this is an old debt (over 4 years) then paying it will turn it into an active recent debt on your credit report. Your score gives more importance to recent debts then older ones, so reaging this will actually HURT your credit score, not help it.Therefore, if you want to really improve your score, you need to get this item DELETED from your credit report.Negotiate with the creditor/collection agent, and tell him that exchange for payment, they must DELETE this item. Get this agreement IN WRITING before you pay them a dime.It makes no sense to pay off this debt if it's not going to help you out also.
How can I legally stop from having my check garnished.?I now have a job and I can pay the debt back now..... I know I owe the money but I didn't have a job and I have been to hell and back with all the problems I have had as of late. Things are really starting to look up for me and I'm not sure what I can do to stop the garnishment with my new job. I am very confused about all of this.The Answer : Check your state laws on this. Most states allow you to ask the judge to order installment payments instead of garnishment. You need to file a motion for this. The exact procedure depends on which state you are in.If granted, you MUST pay the installment payments on time. If you don't, you will be held in contempt, and the garnishment stay will be lifted. It's very unlikely the judge will allow it again.If you do not live un a state allowing it, there isn't much you can do to prevent it.
Can I report a mortgage company to the FTC for an inquiry for a credit report on me without my knowledge?I had an alert message on my credit monitoring and found out the name and city and phone number for the mortgage company. And do I have to file a police report first in order to report it. The Answer : Before you start calling the cops....What was the reason the mortgage company pulled your credit report? Was there any contact with them prior to them pulling it? If there was an implied interest in getting a loan, they could pull your report. If you have never called or done business with them, you would have a case. But your next problem is getting the police to do anything about it. I'm betting you will be lucky just to get a police report taken, and they certainly are not going to waste any effort to prosecute for it. Your best option would be to file a civil suit under Section 616 of the FCRA for $1000. Even still, you need to be able to prove that they pulled your credit report knowing they did not have a permissible purpose to have it.
Source(s):§ 619. Obtaining information under false pretenses [15 U.S.C. § 1681q]Any person who knowingly and willfully obtains information on a consumer from a consumer reporting agency under false pretenses shall be fined under title 18, United States Code, imprisoned for not more than 2 years, or both.
Are there any sample letters to send collections agencies to delete the paid collections on my credit report?If this has already been paid you are going to have a terrible time getting them to delete it. All they are required to do is show that it's "paid" but it will still be a negative on your report.You need to get them to agree IN WRITING to delete it before you pay them.
5 favorite family cars Wednesday August 29, 6:00 am ET Lori Johnston
