Using credit cards can be very beneficial for you, if you take out a reward credit cards. People who choose credit cards without different rewards make a financial...
Cash back reward credit card was created to help you get cash back as a premium for using credit cards of a particular company. Yet, as is usually the reality of a deal...
Our economy today gives everyone with additional challenges. Businesses have been particularly hard pressed to stay rival and to keep floating amid difficult financial...
Students in college have all kinds of expenses, ranging from text books to pizza, but let’s not forget about that spring break shopping spree, those sorority or fraternity excursions, and countless other weekends away and unexpected expenses. Student credit cards can help college kids make it through the semester, but there are a few things you should know before diving in head first.
Student credit cards can help allay some of those calls home asking
There’s bad news brewing for Illinois residents. This New York Times article identifies an almost unconscionable 66% increase in the state’s ie tax rate, from 3% to 5%. Additionally the corporate tax rate will go from 4.8% to 7%. This will inevitably mean less disposable ie and less discretionary spending by employers. The real question, in my mind, is how is this going to impact the credit scores of our friends in Illinois.
This is a simple math problem. Whenever you have less money in a paycheck you have less money to put toward bills. Now, I’m not suggesting there will be a large scale increase in the default rates of Illinois residents but I am suggesting that it will go up to some extent. Even worse, the decrease in “take home” will also place a strain on the discretionary amount, which means more money will NOT be spent reducing credit card balances.
An increase in default rates plus a lack of credit card debt reduction equals lower credit scores. Why? Because anything that doesn’t cause your scores to increase can and will likely cause your scores to decrease. Think about it. Can this in any way help to improve the credit scores of Illinois residents? I think not.
That’s not good news especially because Illinois residents currently boast a healthy average FICO score of 699. As lenders maintain more difficult underwriting standards the impending drop in scores could mean more expensive credit and insurance for Illinois residents.
There a tons of gas credit cards on the market, but not all of them are a good deal. Here’s what you need to know about the Marathon credit card application offers. There are actually 3 different cards…
Verdict: For those with bad credit that can’t qualify for a regular card, this might be worth considering to use as a tool to rebuild credit. For eve
One thing is certain with identity thieves: they certainly know who to target.
In short, it is the large Baby Boomer population that may be the target of identity thieves, due to a number of factors. First, most of this population has money. Secondly, most of them have good credit. Third, they may have more free time on their hands.
The FBI, for example, reports that nearly 35 percent of the people who file identity fraud complaints with the Internet Crime Complaint Center are 50 or older. Because, let’s face it, this is where the money is.
The problem with identity theft and the retiree population is not limited to a thief stealing information from a mailbox. Instead, identity theft includes a number of scams that look to pull personal information or money out of an individual.
Mortgage Scams
Mortgage scams aimed at Baby Boomers are more than just a phone call. I
Recent Comments