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December 29, 2007
Chase Freedom Rewards
So you got decdent credit and want to earn rewards points...
The Chase Freedom Card is here for you. When you apply for The Chase Freedom Credit Card you get the freedom to choose your rewards.
The rewards you can redeem include every day shopping spends including dry cleaning, groceries, commuting costs, cell phone bills, going to see movies, cable and satellie TV, utilities bills, gas rewards and department store rewards.
The Chase Freedom card gives you rewards on whatever you spend the most on.
No other credit card offers the rewards that Chsae Freedom does. I guess that's why they call it the freedom card. You are free to choose the reward benefits that will give you the most value.
Yeah, there are tons of travel rewards programs and other rewards programs that are specific to an industry but what you need is the freedom to pick the rewards to benefit you particular lifestyle and with the Freedom Card from Chase you get the rewards that best fit you needs.
Get the rewards to fit your life, apply right now for the Freedom Card. You will not regret earning points the way the Freedom Card from Chase will reward your unique spending habits.
Posted by Colin at 02:02 AM | Permalink | Comments (1) | TrackBacks (0)December 27, 2007
Union Plus Rewards Members
We have just posted a review of the Union Plus MasterCard for those hard working union members visiting Crediteria. The Union Plus credit card is perfect for those union workers that are concerned about being able to pay their bills when they are on strike fighting for a better work environment.
Union Plus is one of several HSBC credit card offers that has been specifically designed to serve the needs of union members by offering the ability to skip payments when you are on strike plus they give you tons of excellent rewards including a very low introductory interest rate to help you even more.
If you are a union worker and want the maximum protection and an amazing credit card rewards program then make sure you check out our review of the Union Plus MasterCard offer right now and I think you will agree that this is likely the best credit card for union workers. It's designed with you in mind and your unique financial needs.
December 21, 2007
Teenagers Money and Credit Cards
Credit card debt is the bain of millions of people around the world. Getting into financial trouble because of the ease of which credit cards can be used is how most Americans get into serious financial crisis.
What if we had been taught how to use (or not use) credit cards when we were teens?
I have just published an article about credit cards for teenagers. By getting your teen a prepaid credit card now you can give them the education they need to survive as adults.
It is in your teens best interest to take an active roll in their financial education so by getting them a prepaid visa you can start teaching them about credit right now so they can avoid debt problems that can start creeping in when they are in college.
Make sure you take a moment to read my article on teens and credit.
Posted by Colin at 03:15 PM | Permalink | Comments (0) | TrackBacks (0)December 17, 2007
Credit Card for Bad Credit from Orchard Bank
Believe it or not, people with poor credit can apply and qualify for a credit card for bad credit. Even with the sub-prime crisis that is currently going on. While several lenders have discontinued their bad credit offers there are still some that will approve you for a credit card even with bad or no credit.
There are millions of people that have bad credit because of job loss that are now back on their feet with a good job and the ability to pay their credit card bills. The banks are not going to completely miss out on this opportunity as they know there are many good people that deserve to have a credit card to help repair their bad credit score.
We will be updating our list of credit cards for people with bad credit as we thoroughly review each and every offer available.
Our findings as to which is the best credit card for people with bad credit have been the Orchard Platinum Card is the best card on the market right now for those with a poor credit rating.
Orchard Bank Platinum Card Offer
Get more information about the Orchard Platinum Card Now
When evaluating credit card offers for people with bad credit we take several factors into account.
The first factor is if the card reports to the credit bureaus, this is critical because you should have the goal of repairing your credit in mind when apply for a card when you have bad credit so that you can take advantage of the perks and benefits that come with having good credit. The Orchard Platinum card reports to the 3 major credit bureaus so it merits further review by us.
The next factor we look at are the fees attached to the card offer. Typically credit cards for people with bad credit tend to have very high fees attached to the offer. Banks that lend to people with poor credit must charge higher annual fees and interest rates to protect themselves from delinquent accounts. Yes, when you have bad credit you must pay a lot to get credit cards and loans. It might not seem fair because with poor credit, typically people don’t have the extra money to pay these higher fees and that is why a credit card (with a relatively low limit) is the best place to start repairing your credit. It’s about cheapest way to restore your credit.
The Orchard Platinum Card is designed for those with poor credit and what we like about the offer from Orchard is the incredibly low fees when compared with their competitors.
The review team at Crediteria.com unanimously agrees that the Orchard Platinum is the best card to help you repair your credit rating while paying the lowest fees possible.
Posted by Colin at 12:12 PM | Permalink | Comments (0) | TrackBacks (0)December 14, 2007
Revolution Money Launches Money Exchange - A New Face in Sending Cash
Steve Case's start-up Revolution Money has just released a payment system for Facebook. The new system is called MoneyExchange.
Money Exchange is an application in Facebook that lets you send money with no processing cost. So far Money Exchange is pretty much the same as PayPal, however by using the mega social networking site that Facebook is, Steve Case sees this as a method to enter a very competitive space and become a serious competitor to Paypal. While Money Exchange is not making money by providing this service the money will come via the Revolution Card which is a competitor to Visa and MasterCard.
The Revolution Card is positioned to compete with the well established Visa and MasterCard by under-cutting costs to the consumer making it a very attractive alternative.
Posted by Colin at 03:35 PM | Permalink | Comments (0) | TrackBacks (0)December 13, 2007
Get out of Credit Card Debt - Helpful Advice
I just read a news item on Google news where the headline read like this:
Clearing Debt by Getting More Credit Cards
What they are saying essentially is this, if you have a credit card with a 19% intertterest rate you should go apply for another credit card that has a zero percent APR.
Doing this can save you hundreds or thousands of dollars on interest costs and that is a very good thing. I fully agree with this approach as the zero percent introductory rate will help you dig out of credit card debt.
What you need to know when you do this is that every time you apply for credit the banks report this to the credit bureaus and it will have an impact on your credit score if you repeatedly flip credit cards.
So make sure you are mentally ready to be responsible and take advantage of the interest saving by paying as much down as possible during the interest free period on the credit card. What I have been recommending for years is that you take advantage of the interest savings by paying what you were previously paying on your old credit card to bring the outstanding balance down quickly.
Another thing you need to know when you take advantage of an interest free card offer is that you must make all your payments on time otherwise typically you will lose the 0% APR and be paying a much higher rate, this is why I said you should take advantage of the introductory rate when you are mentally prepared so that you are sure to pay your card on time each and every month.
Also note that the interest free period usually only applies to the balance you transfer to the new credit card offer and new purchases and cash advances on the card will be charged at the banks ongoing interest rate. You should take the time to read through the card terms and conditions before you apply.
December 12, 2007
Bankrate Buys NCS Reporting
Bankrate.com acquired the credit card marketing company, NCS Reporting last week for $26.4 in cash and $7 million in potential payment based on performance over the next 2 years.
When Scott and Robert Langdon launched their credit card site in 2001, they likely never thought they would enjoy such a lucrative buyout. They deserve it they have worked very hard to establish relations with their affiliates, such as myself.
Of course, the question several NCS affiliates have in mind is "what does this mean for current NCS partners, affiliates and online sales staff?"
I just got off the phone with an NCS insider and his view on what this likely means for affiliate partners is higher commissions on credit card referrals.
Now that NCS Reporting is owned by the financial giant Bankrate, the ability for NCS to get bank CEO's on the phone and cut direct deals is much higher and that means one less middle man in the process.
Fewer middlemen translate directly to higher margins. Higher margins mean possibly higher commissions for affiliate partners.
I will be in discussions with NCS Reporting over the next few months to discuss higher payouts and closer partnership with them.
The results of my discussions with NCS Reporting will be posted here.
If you have any comments, I would like to hear your take on Bankrate.com's latest acquisition.
Posted by Colin at 01:46 PM | Permalink | Comments (0) | TrackBacks (0)December 10, 2007
Federal Reserve Consumer Protection Initiatives
The Federal Reserve Bank is currently researching ways in which to provide much needed relief for the sub-prime housing crisis that is tearing apart consumers particularly in the mid-west states where job losses are occurring very heavily, mainly due to lay-offs in the auto manufacturing industry.
In the coming weeks, the Federal Reserve will be proposing new regulations in advertising financial offers such as credit cards and mortgages particularly in regards to disclosures. The Federal Reserve will be looking into how to outlaw unfair or deceptive advertising practices deployed by the financial sector.
Here is a break-down of what the Federal Reserve has been and will be doing to protect consumers from unscrupulous lenders that prey on people who are less informed.
1. Coordinated enforcement of consumer protection laws
The Federal Reserve has been involved in researching, monitoring and examining subprime credit card and mortgage lenders through a cooperative initiative with individual state regulators. The Federal Reserve is continually reviewing consumer protection laws for compliance as well as review the terms by which subprime lenders grant loans to consumers.
This is an excellent initiative by the Federal Reserve because the end result will be fewer bad loans being issued.
If you are a sub-prime consumer, on the surface this may sound bad, however it is a good thing because you will not end up in a situation where you have a line of credit which you can’t afford to repay. You are much better off getting rejected for credit than having to try to pay for a loan that you simply can’t afford.
2. Loss mitigation efforts
The Federal Reserve is working with lenders to set guidelines for restructuring loans that are in delinquent and could be facing foreclosure and keep the consumer in their home while providing the lender ongoing recovery of the loan.
Note: If your mortgage is up for renewal soon, you may want to take a proactive stance and call your bank as soon as possible to negotiate your options in order to stay in your home. There is legislation in place to help you keep your home a prevent bankruptcy.
3. Consumer protection regulations
The Federal Reserve will use it’s authority under HOEPA (The Home Ownership and Equity Protection Act) to devise rules and regulations to prevent unfair or deceptive advertising practices particularly to the subprime market.
While it’s nice that the Federal Reserve is looking out for you, it’s best to educate yourself and take responsibility for your choices. If you start learning about finances right now and avoid taking on too much debt you are going to live a much happier life.
Having a house that you can’t afford is far worse than renting an apartment that you can afford. Live within your means, by that, I mean spend less than what you make and all will be fine. Go outside what you can afford and you will know stress far beyond what you ever care to experience.
December 03, 2007
Credit Card Confusion Elimination Legislation
Consumers can rejoice in legislation that is coming thanks to Sen. Ron Wyden proposing The Credit Card Safety Star Act of 2007
The essence of what the Credit Card Safety Act is attempting to achieve for consumers is a 5 star credit card safety rating system, which will provide consumers with a standard of what credit card issuers deploy sneaky tricks and which ones create obscure card offers that confuse consumers into paying higher interest charges and usage fees.
One problem creating confusion with credit card applicants are items such as variable rate interest as well as varying fees. Quite often, especially for those new to holding a credit card, the variable rates are a bit confusing. Consumers are lured into a card offer via a low annual APR and then are charged incredibly high ongoing rates.
The problem arises because people simply don’t read the terms and conditions, the fine print, to see exactly what they are agreeing to. The terms and conditions are usually very long and make for a difficult read due to the industry jargon.
I hope with all my heart that the Credit Card Safety Star Act is implemented as it will at the very least serve as a caution to read the terms and conditions in detail before agreeing to any credit card offer.
Regardless of what happens, consumers must take the onus on themselves and thoroughly read the credit card agreement they are signing. This piece of advice should be taken seriously for any financial agreement you are signing whether it be for a credit card, loan or even a cell phone plan.
You are signing a legally binding agreement to pay a certain amount of money and you will be held to the agreement through to the expiration date so take heed my warning and read the fine print on everything requiring you to pay for any product or service