Young Adults: Don’t Get Caught in the Credit Card Trap!!

Young adults, watch your credit card habits, because ruining your credit while young can involve a long road back to good credit!  Luckily, new legislation prevents credit card vendors from handing out credit cards like candy on college campuses; they no longer can approach a student under 21!  Thank goodness, because college is where a lot of young adults begin their credit score downfall! 

Avoid the major ways that many young adults (and many older adults) ruin their credit.  It takes quite a while to rebuild your credit, so don’t go there!  Credit card use is so tempting, but temper it!  Check out CardRatings.com’s article, 5 ways young adults ruin their credit, so you can avoid ruining yours!  That way you will be able to get loans that you want in the future, like school loans, car loans, home loans, business loans, etc!

Read & heed~                                                                                                                                         Rosemary, Atkinson-Thompson Group

Credit Card Regulations: 6 New Ones That Actually Protect YOU

Credit card companies…for years it has been hard to keep up with their antics, hasn’t it?!  Well, things are improving regarding credit card company shenanigans, and I came across a good Investopedia.com posting outlining a few changes that have been enacted that benefit you.  Credit card companies no longer hold all the power…nice!  I love the fact that they can no longer  prey on campus on young college students…been there in the recent past with a certain college student of my own!  Since the credit card companies knew the legislation was coming, most arbitrarily raised clients’ interest rates in time to beat the legislation, even for those clients with perfect payment histories.  Don’t be afraid to call your credit card companies and request an interest rate deduction!  Read Porcshe Moran’s article, 6 New Credit Card Regulations That Benefit You,  for the lowdown on a few other sleazy practices with which credit card companies can no longer get away!

To keeping credit card companies honest~                                                          Rosemary, Atkinson-Thompson Group

Credit Cards: Best of 2011

With the games credit card companies play, what credit cards are looking good for 2011?   Check out Bob Tebilcock’s article, Best Credit Cards for 2011, to check out some options.  It is always a good idea to shop around for the cards that best fit your needs!  Deals and offers are looking up as credit card companies realize that they need to once again get competitive.  

To the best credit cards for you~  Rosemary, Atkinson-Thompson Group

Credit Card Winners & Losers for 2010

It can be difficult to stay one step ahead of your credit card companies!  What will they come up with next?!  In these economic times, it is a good idea to always be looking for the best deals out there, credit cards that are most fair and beneficial to YOU!  I came across a very good article by Jennifer Saranow Schultz for The New York Times, The Worst and Best Credit Cards of 2010.  Check out how the editors at credit-card-comparison site CardRatings.com sized up what’s out there!

To the best credit card options for you~ Rosemary, Atkinson-Thompson Group

Control Your Holiday Spending

During this holiday shopping season, think “no regrets”!  You don’t want to still be paying for those holiday gifts in July!  It is fun to play Santa, but not at the expense of your finances.  Check out some helpful advice on curbing your holiday spending this or any holiday season in Reyna Gobel’s  Investopedia article, 8 Tips to Help You Control Holiday Spending. 

You can do it~ Rosemary

Don’t Let Those Credit Cards Get the Better of You!

Most of us have them, and many of us get into trouble with them!   It is more important than ever to manage your credit card debt and manage your credit cards to your best advantage, especially since so many credit card companies arbitrarily raised interest rates to beat credit card reform legislation.  Life gets busy, so you are best served by setting up reminders that it is time to pay your credit card bills, always checking charges on your bills, etc.  For some good advice on credit card management, check out Moolanomy’s article for U.S. Wold & News Report, 10 worst credit card mistakes.

To judicious credit card usage & management~  Rosemary   

Avoiding Credit Card Fees

Credit card companies…they always try to stay one step ahead of their consumers!  Since new legislation has come into effect limiting credit card fees, credit card companies are thinking up NEW fees!  A good read on how to avoid those fees is contained in RISMedia’s article, 6 Strategies to Help Consumers Avoid New Credit Card Fees.  Definitely some good advice contained in this one!

To keeping an eye on those credit card companies~  Rosemary

Credit Cards: Use Them!

Many consumers don’t realize how the judicious use of credit cards can send their credit scores upward.  Conversely, they don’t realize how not using their credit cards can send their credit scores downward.  Don’t get yourself into debt, but charge a tank of gas, one meal out, a new piece of clothing (You get the idea!) per month on a credit card and pay that amount off when your payment is due.  This will drive your credit scores north…promise!  Jeremy M. Simon of CreditCards.com wrote an informative  article,  Unused credit cards can hurt you, on why using your credit cards is important to your credit scores.  A good read! 

To higher credit scores~  Rosemary

The Pitfalls of Unused Credit Cards

We all need to be cautious about accumulating credit card debt, but there are ”tricks of the trade” for maintaining high credit scores, and consumers are unaware of many of them.  Should you keep an account and never use it (keep in at a zero balance), or should you close the account?  Ahh, don’t close it; closing an account can ding your credit score!  And don’t ignore that credit card!  Use it periodically and pay it off when the bill comes in; this will drive your credit scores upward.  Click here for an advisory article by Jeremy M. Simon for CreditCards.com, To Preserve Credit Score, Don’t Leave Credit Cards Unused.  Take it from a former loan officer, Jeremy’s is good advice!  Much driving your credit scores is responsible activity and, very importantly, the amount of credit available to you vs. the amount you have used…available credit card limits compared to credit card balances.  Just be careful not to leave your credit cards dormant!

Best~ Rosemary

Managing Your Credit Scores

We are all quite aware of the effect credit scores have on our borrowing power, but many consumers don’t know how to “play the game” to get their credit scores where they would like them to be.  Click here for a tidbit of advice from Jeremy M. Simon in his article High Balance on One Card Can Hurt Overall Credit Score for CreditCards.com via Yahoo!Finance.  Having been a loan officer, I promise you that Jeremy’s advice is very good advice! 

Best~  Rosemary