http://www.cardinform.com Get the Inside Scoop On the Credit Industry Fri, 19 Sep 2008 02:34:08 +0000 http://backend.userland.com/rss092 en Well, thanks to the beautiful birth of the credit card, people in the US have been in personal credit debt for 50 years now! The WSJ created a little video outlining how this wonderful invention that can spur consumer spending has created $2.5 Trillion in debt with 640 million card in ... http://www.cardinform.com/the-credit-card-turns-50 "When the Federal Reserve asked for comments on its proposed rules on abusive credit card practices, an astonishing 56,000 poured in" 56,000!!?!@?! That's larger than the entire population of Canada! Will the government listen?  Yes... Maybe.... Not really.... only a little.... With the Democrats in power, we've basically seen some sidestepping, but they've put ... http://www.cardinform.com/when-56000-people-are-wrong This post is for all you credit card cherry pickers scouring for the best offers and sitting by the mailbox waiting for better offers to call (myself included).  Have you noticed a lack of enticing promotions? or anything worthwhile?  It seems all I'm getting are convenience checks to transfer my ... http://www.cardinform.com/where-have-all-the-offers-gone New York Times has a great interactive piece on the changing culture of debt not only across the U.S., but across the world. With the recent bailout of Fannie Mae and Freddie Mac, it's a good look and discussion of how we got ourselves into this situation, and what the corporate ... http://www.cardinform.com/changing-culture-of-debt We all get them and I know I personally get them a lot. I'm talking about Purchase, Balance Transfer, and Convenience Checks. So, what is the difference between balance transfer checks and convenience checks asides from the fact that they eat into your credit card line? Purchase Checks: Deducts from your purchase credit ... http://www.cardinform.com/before-signing-on-the-dotted-line-purchase-balance-transfer-and-convenience-checks The Federal Reserve has finally announced that they will crack down on "unfair and deceptive" practices within the credit card industry.  Finally.  After a lot of talk and interest rate cuts the Fed will finally fight for the rights of consumer...particulary those in debt.  In the US where saveings rate ranges ... http://www.cardinform.com/fed-to-crack-down-on-credit-card-industryfinally   Here's another long awaited installment of Creditpedia.  However, it's more of a Q&A. Given the blooming economy (sarcasm) I have received many emails asking about the effect of foreclosures and repos on your credit bureau. If you are one of the unlucky many that have failed to make payments given the poor ... http://www.cardinform.com/creditpedia-foreclosure-or-repo-effect-on-credit-bureau I recently got a credit card solicitation from Washington Mutual or more "cooly" known as Wamu. Now asides from Wamu's abysmal earnings results, I instantly thought I was a great deal due to the envelop boldly stating: "O% FIXED APR on Purchases until January 1, 2010" WOW! 2010! But the ... http://www.cardinform.com/wamu-visa-platinum-0-apr-until-january-2010 Every credit card application has the dreaded Income Declaration field where you are supposed to state your household income. Maybe people are unsure about this field and how to answer. Here are some common concerns: Will they verify my income? Should I lie and declare more than I make? WTF? It's none of their ... http://www.cardinform.com/truth-about-credit-cards-income-declaration Ok, I have decided to start entries in the "Creditpedia" section. Since credit card companies frequently layer details and pricing into fine print and the terms and conditions, I will try and get to the basics of some of the practices that make them money and make you lose ... http://www.cardinform.com/creditpedia-payment-allocation