Published On October 24th, 2012

Who's responsible for debts after a death?

When a spouse dies, the surviving mate may be burdened with more than just grief and loneliness. Credit card debt may also haunt the partner that is left behind.

The responsibility for the credit card debt of a deceased spouse will depend on the type of account it was and, in some cases, where you live.

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Published On October 19th, 2012

Are you someone who is trying to rebuild your credit? Investing in a secured credit card could help you to quickly bring your credit score up. However, unlike a standard (unsecured) credit card, these cards typically require a refundable security deposit to grant you a credit line. Many also have annual fees and higher-than-average interest rates. You can shop around to find the most attractive rates and terms, and you’ll need to protect yourself from predatory offers.

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Published On October 12th, 2012

QUESTION: How can I avoid accumulating credit card debt over the holidays?

ANSWER: Too many people find themselves with a large amount of credit card debt after the holidays, thinking they'll pay the balance with their tax refund. When you think about it, getting a refund check means that you let the IRS use your money throughout the year without paying you any interest.

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Published On September 8th, 2012

Let’s face it: College is more than beer, babes and books. For many of you, starting your college life is right around the corner, and it’ll be your first foray into what your parents probably call “real life”. You will be inundated with so much information in the first few weeks, it will make your head spin. One thing you are certain to see is your fair share of student credit card offers. College campuses are often littered with representatives from credit card companies…

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Published On May 23rd, 2012

What attributes do you think would describe the riskiest (most likely to default) credit card borrower?  Would you say they are people who max our their card, miss payments, and exceed credit limits? or is it those who pay their bills on time, revolve small balances, and never even approach their limits? Clearly, the former is going to be the riskiest profile.

Now, describe to me the profile of a credit card user who is going to be the most profitable to the issuer. Would you say…

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Published On May 4th, 2012

Credit cards are like relationships. It's sometimes hard to break up and the split may hurt you more than the other party involved. While it may give you all sorts of warm and fuzzy feelings to cut up that credit card, losing the available credit could hurt your credit score and raise the costs of future financing and loans you take out.

Closing a credit card account that you have paid off or don't use seems like a logical thing to do. However, the "credit utilization ratio"…

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Published On February 29th, 2012

According to most recent reports, a major consumer group conducted a study that said that it is pretty easy to get your credit card interest rates lowered. 59% of the credit card holders just called the credit card company and got a reduction in their interest rates instantly and the rate that was lowered was somewhere between 7-10 points lower than what they were paying previously. If you succumb to the sky-high rates on the credit cards, very soon you will land up in credit card debt for which…

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Published On February 20th, 2012

Although credit card delinquency has become more common during the past several years, most consumers' continue to have a lacking understanding of how it works.

Too many of us don’t know how to avoid or solve this personal financial challenge!

The good news is that once you gain a more complete knowledge of delinquency, dealing with it is actually pretty straightforward.

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Published On January 11th, 2012

If one of your New Year’s resolutions is to pay off your credit card debt, be advised that it’s getting harder all the time. That’s because credit card interest rates climbed to record highs last month, reaching an average of 15.22 percent, according to the consumer information site CreditCards.com.

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Published On September 11th, 2011

There’s no denying that credit cards can be useful financial tools, but they come with some dangers. While debt is the most obvious risk, it’s far from the only one. There is plenty of debate over whether or not you should use credit cards, especially if you are in debt. If you have credit cards, you want to be sure you are using them to your advantage and avoid costly mistakes.

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