Credit Card Now

It looks like regulators at the Federal Reserve Board were listening when consumer groups and others lambasted a new database of credit card agreements that debuted in May 2010.

Under the Credit Card Act of 2009, all U.S. credit card issuers with more than 10,000 open accounts have to submit all of their consumer credit card agreements to the Fed every quarter. The Fed, in turn, must post the agreements on the Internet so that consumers can have a one-stop place to see and compare credit card terms. At least, that was the intent. As the New York Times and others pointed out, it was virtually impossible for credit cardholders to access their specific credit card agreement on the website.

“The Fed has managed to organize the database in a way that makes it largely unusable for the ordinary consumers,” wrote Angie Littwin in the Credit Slips blog.

Disastrous database
The problem: Contracts were posted on the site with no indication about to which of the issuer’s many cards the contracts were associated. N

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Tags: Credit Card, Database

There are several types of long term investments from which you can choose. The long term investment strategies are principally spanned over an entire decade or in some cases 15 to 30 years. Most of the long term investment options would mature when you reach your middle ages, and hence the proceeds and returns over investments of such long term investments can come in handy in cases such as your retirement planning or your kid’s education or your kid’s wedding. Since such investments are long term and involve a lot of money, one has to be really careful about all the transactions that are related to them. You may also refer to best long term investments.

Long Term Investment Options

Some of the best long term investment options include the following?

Real Estate
One of the best options is real estate, the sole reason being the supply of land is inflexible and thus prices are ever rising. Read more…

Tags: Investment, Long Term, Long Term Investment, Term Investment

I can’t believe National Protect Your Identity Week is almost over. I mean, it’s almost like it didn’t even happen this year. Such a shame.

I did make a noble attempt to keep the holiday spirit alive by wishing some random people in the grocery store a “Merry Protect Your Identity Week” last night, but I wasn’t feeling the love. All I received in response were some awkward stares and a completely empty aisle to compare my cereal options in peace.

Come on people! Don’t you care about identity theft?

The good news is we’ve got some doozy holiday celebrations lined up over the next few months to make up for the lack of excitement that Protect Your Identity Week has brought us. Starting with Halloween, then my personal favorite, “gorge yourself with turkey and gravy” Thanksgiving, and of course the most popular of all— Christmas.

And what do all these holidays have in common? Each of us will likel

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Tags: Identity Week, National Protect, Week

It’s hard to believe, but it’s been six months since BP’s devastating oil rig explosion and subsequent leak took place. Although the oil was contained some time ago, the incident is far from resolved.

According to USA Today, scientists and government officials are still tallying the number of injured and dead wildlife and documenting the damage to shorelines and marshes. They say the work to fully restore the area could take years.

Lingering problems such as the oil spill remind me of credit. It takes hard work and discipline to build and maintain a good credit rating. But what happens when we have an emergency or don’t quite understand how credit works, and we find ourselves with bad credit, debt collection notices or even bankruptcy?

If those things happen, they tarnish our reputation, and not just briefly.

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Tags: Months, Six Months

Dear Creditnet: I recently began helping an elderly neighbor pay his bills.

One credit card statement arrived today and indicated that his payment is due in just 18 days. They also request that it be mailed at least 7 to 10 days in advance to avoid a late payment fee, so that only gives him 11 days to cut a check and get it in the mail.

This just doesn’t sound right to me. Am I wrong?

Answer: I wish my grandparents had a neighbor like you. Kudos for lending a helping hand.

Your neighbor’s credit issuer will need to receive payment by the due date or they will most likely charge a late fee and begin charging interest on the existing balance as well. That’s why they’re suggesting you send payment at least a week or so in advance. Unfortu

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Tags: Payment, Payment Reminder