Best Credit Cards for You!

Having trouble figuring out what your interest rate is going to be on a new credit card offer? You’re not alone.

Consumers’ mailboxes are being flooded with new card offers. Some of these offers are simple and just advertise a single flat interest rate to every customer, regardless of their creditworthiness. However, many of those offers feature APR ranges — sometimes 10 percentage points or more — that are so wide that it’s hard to tell what interest rate you’ll actually have to pay until you receive the card.

“It makes it impossible for meaningful shopping to take place by the consumer,” says Josh Frank, senior researcher at the Center for Responsible Lending.”They have no idea what rate they’ll be getting.”

Card offers can be tough to navigate Credit card offers with APR ranges of 10 percentage points or more are unusual, says Nessa Feddis, vice president and senior counsel for the American Bankers’ Association trade group.

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Tags: Credit Card, Offer

Owning a credit card can be a constant battle of weighing the pros and cons of making a payment in a timely manner.  Credit card payment versus groceries or utility bills or house payments for example and this struggle peaked according to reports, as the end of 2011 saw a spike in late credit card payment fees.  However, for cardholders out there, there is an alternative.  With the Citi Simplicity Card, youll never have to worry about late fees again.

The biggest benefit to being a Citi Simplicity cardholder is the benefit of never having to pay a late fee and no penalty rate.  For those that continually struggle making their payments on time, this gives an unrivaled peace of mind.

Couple that with their industry high 18 month 0% APR on purchases and balance transfer intro offer and you have a very solid credit card.  If you transfer a balance over to your new Citi Simplicity® Card, add 3% on top of it for the balance transfer fee, and you wont have to worry about any interest accruing for 18 months.  This is a vital helping hand for those currently walking that tight rope.  Over the duration of 18 months, someone can put a big dent or even completely wipe their credit card debt clean.  The standard interest rate is 12.99% 21.99% variable depending on credit history

• Live Phone Support Anytime you need some assistance with your card, Citi is there for you.
• Price Protection This isnt a benefit you see too often, but it can be very valuable for those making a lot of purchases.  If, within 60 days, you see one of your recent purchases for a lesser price, report it to Citi and get the difference credited to your account up to $250.
• Extended Warranty Another benefit of being a Citi Simplicity cardholder is being able to maximize your warranty on qualified purchases.  Instead of spending unnecessary cash on those pesky extended warranties when youre out purchasing that new laptop, dining room table, or flat screen television, you can walk away from those in-store warranty services with up to 12 extra months of protection from Citi.
• Citi Private Pass Always useful, but often underused are little programs and perks like this on your credit card.  If there is a concert or sporting event coming to town, you should check out Citis Private Pass to see if that event is listed there.  You could benefit from VIP options and pre-sale tickets not available to non-members.
• No Annual Fee The simplest of all benefits.

The Citi Simplicity® Card is a first rate balance transfer card.  With its 18 months of 0% APR and NO LATE FEES (cant stress that enough) this is a card to seek out if youre one of the millions of Americans that is struggling with debt or looking to really knock down your debt.  Being a Citi cardholder, you have a plethora of benefits that come with it.  Unfortunately, this is not a rewards card of any kind, which is its only real downfall.

Tags: Card

Hi Eva,

I got my first credit card about three years ago. I don’t use it much, but I make sure to charge some things each month so I can raise my credit score. I’ve been paying off the entire balance before the due date, but my friend said that’s wrong. She says I need to carry over a balance past the due date so that it gets reported to the credit card bureaus. Is that true? If it is, I guess I could leave a balance but a small one so I don’t have to pay that much interest. And what is the best timing for making payments so that the credit agencies know about them? I only got this card so I could get good credit and get a house soon, but now I’m worried I’m doing it wrong. Sheena

Dear Sheena,

Not to worry, you are doing just fine.

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Tags: Card, Credit Card

American Eagle Credit Union in St. Louis, MO puts the convenience back in transportation with an affordable auto loan rate. Members of the institution can receive as low as 2.50% APR when financing a new vehicle.

Auto Loan Rate Terms and Conditions

This auto loan rate applies to members with excellent an credit scores and strong credit background. Available terms range from 36-60 months for repayment, giving borrowers the option to choose the best financing plan that works with their budget.

About American Eagle Credit Union

American Eagle Credit Union supports members in the St. Louis metropolitan area and those residing in the Dallas, TX region. As American Eagle Credit Union branches out to help depositors across the country save smarter, the credit union’s products and services aim to go above and beyond their members’ expectations.

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Tags: Apr, Credit Union, Eagle Credit, Eagle Credit Union

CRAs

The Consumer Financial Protection Bureau is targeting consumer reporting agencies (CRAs) with at least $7 million in annual revenue, which includes 30 companies, representing 94 percent of the market and 7 percent of the companies.  The 30 include the three major consumer credit bureaus – Equifax, Experian and TransUnion. The main consumer complaints about them are the difficulty in updating reports and in correcting errors.

Collection Agencies

Approximately 175 debt collection agencies with annual revenue of at least $10 million are being targeted. The three major types of companies in the debt collection industry are: firms that collect debt owned by another company for a fee; firms that buy the debt and collect for themselves; and debt collection attorneys and law firms that collect through litigation.

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Tags: Agencies, Reporting Agencies