Credit Card Now

When a loved one passes away, the last thing on your mind is their credit card bills.

However, in order to protect the deceased’s estate from additional charges, fees, or even identity theft, it’s important to remember that your loved one’s credit cards will remain open and active until you take the following three steps.

1. Call Credit Issuers and Close the Accounts

Round up all your relative’s credit cards and/or credit card statements and determine which credit card companies you need to contact. You sho

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“What can we do to make our credit card your No. 1 card?”

I was stumped by the question posed by a cheery-voiced customer service rep last week. I had called my credit card issuer to request a copy of the credit card agreement for one of my cards.

My colleague Jeremy M. Simon was writing an article about how several credit card issuers, including Bank of America, were no longer revealing penalty interest rates to potential and existing customers and he wanted to see an agreement.

For those who don’t know, a penalty interest rate is the rate that you will be charged if you screw up and miss payments. It is a higher rate than the normal APR for purchases. I

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When you’re looking for a balance transfer credit card application, there’s usually a reason. Balance transfer cards are a great way to gain some breathing space if you’re paying a large amount of interest, but they can also create more problems than you anticipate. Before you set out to make your application, keep these thoughts in mind.

Who should get a balance transfer card…

The only reason to make a balance transfer credit card application is to gain a bit of breathing space. If you’re suffering from an extremely heavy debt, a balance transfer credit card won’t help in the long run.

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We’re used to California being declared in a state of emergency for wildfires, but on Wednesday, Gov. Arnold Schwarzenegger declared a state of emergency over California’s finances, according to Reuters. It’s no surprise that the state has experienced financial turmoil in the past few years, but things have reached a dire point now that there is a $19 billion budget shortfall.

The budget is five weeks overdue, and it might take a few more weeks until the Democrat-heavy legislature and Schwarzenegger, a Republican, can get their act together and agree.

The red ink totals 22 percent of the $85 billion general fund budget the governor signed last July for the fiscal year that ended in June, Reuters reports.

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Dear Creditnet: I’m currently in the market for a new TV and Best Buy is offering 0% financing for three years.

My question is when you open an account like this, how big of a hit does your FICO score usually take and how long will it take to rebound?

I could easily pay cash for the TV up front, but the “finance” person in me says it’s free money—why not take the terms?

Answer: Hard inquiries for a new credit card will generally drop your FICO score about five points, but it should bounce back within a few months. In some c

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