Best Credit Cards for You!

The number of people filing for bankruptcy protection in retirement has soared in recent years — even before the recession.

In fact, people 65 and older are the fastest-growing segment of the population seeking bankruptcy protection, according to a recent study from the University of Michigan Law School.

The problem is simple math, said Johanna Sweaney Salt, a CPA with Kaufman, Schmid, Gray & Salt in Claremont, Calif. Their medical expenses, taxes and other costs keep going up, while their income is going down. Social Security hasnt had a cost-of-living adjustment in a long time and pensions and retirement accounts took a huge hit during the recession. Reverse mortgages and other alternatives presented to them as solutions often just dig them further in the hole.

Most people think Oh, I have Medicare — Im covered, said Jean Setzfand, director of financial security at the AARP.

Full Post…

Tags: Retirement, Retirement Good

When you apply for a business credit card you can begin to establish a credit file for your business rather than have business expenses (or problems) intermingled with your personal credit rating. The business credit cards work much the same as personal lines of credit.

These cards are often opened in the name of your company and have more flexibility in your credit limit if your company is well established. If yours is a start-up without a track record as yet establishing credit for the business is a critical step to take.

Annual Percentage Rate (APR) charged for business credit cards average one to two percent lower than that of personal credit accounts. Some lenders offer extra incentives to lure commerce accounts. This is an unethical strategy but it is not illegal. In other words, do not rush and apply for a business credit card immediately.

Instead, take your time and compare the various offers before making your decision.

Full Post…

Tags: Business Credit, Business Credit Card, Card, Credit Card

Thinking ahead is what makes Portsmouth, VA depositors smart savers. Today a PFD Firefighters’ Credit Union, Inc. savings account can provide a 0.50% APY interest rate and amplify your savings potential. The more you deposit into your account, the harder this savings account rate works in your favor–learn how to send your finances on a winning path.

Savings Account Rate Terms and Conditions

To open a savings account with this financial institution, depositors must meet eligibility requirements and be within the field of membership. Once that factor is established, the minimum daily balance that must be maintained to earn the savings account rate is $25.

Full Post…

Tags: Apy, Credit Union, Firefighters’ Credit, Firefighters’ Credit Union

Victims of criminal identity theft rarely know they are victims until they learn that there is a warrant out for their arrest or are arrested. Fortunately, court systems and police departments are aware that this type of identity theft occurs, making it possible for victims to clear their names.

Criminal identity theft occurs when an individual gives another person’s name and personal information to law enforcement authorities during a criminal investigation or at the time of arrest. Personal information includes a date of birth and social security number. This type of identity theft usually transpires when local authorities issue traffic or misdemeanor violations, but can also happen when an individual is arrested for financial identity theft, such as the misuse of credit cards.

Full Post…

Tags: Criminal Identity, Criminal Identity Theft, Identity Theft, Theft

Hi Erica,

February 2012 will be a year since my bankruptcy was final. Where can I find a card that starts out as prepaid and then will turn into a regular credit card? I heard on the Howard Clark show on CNN that just a prepaid wont help reestablish my credit unless its the kind will switch to a full credit card eventually. Kevin

Dear Kevin,

Congratulations on the anniversary of your bankruptcy. I hope you used these past 10 years well.

When you left your debts in the courtroom, whatever income you had should have been free to go toward vital household bills like food and utilities. Maybe you’ve begun to set aside cash for periodic expenses and unexpected emergencies.

Such is the beauty of bankruptcy.

Full Post…

Tags: Bankruptcy