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9 best credit-related posts from this week

Emily Crone

Last week, I posted my favorite credit card posts from the blogosphere. It got a great response, so I’ve decided to do a weekly roundup in the same format. Here are the best I found this week.

1)    Kacie from Sense to Save has found a good reason to not cancel all her credit cards: She can’t rent a car without one.

2)    Blueprint for Financial Prosperity writes about a great way to cut back on spending: Write your goals on your credit card. It will remind you of your goals and can be a good conversation starter. (found this via Trent at The Simple Dollar).

3)    Consumer Reports discusses the pros and cons of using a credit card to finance a new business.

4)    The Consumerist highlights the dangers of going over your credit limit. These days, if you hit your credit limit, your card isn’t always declined. The credit card companies will let you go over, but not without hefty fees and a higher interest rate (not to mention a possible slap to your credit score).

5)    BigSnit.com gives consumers the heads-up about a new online security mechanism MasterCard and HSBC are using. It is meant to add extra protection to online purchases, but can easily be mistaken for a phishing attempt.

6)    A post on WiseBread discusses how bank fees are rising, which greatly affects credit and debit cardholders. A solution given is to look into Internet banks, which have lower overhead fees and thus charge less in fees.

7)    Single Guy Money compares his credit scores between several months and across the three bureaus, showing how your score can vary through time and depending on which bureau you use.

8)    My Two Dollars discusses the difficult decision of whether a parent should co-sign on a credit card for their college student. We recently ran a similar column, though it addresses whether parents should co-sign on a loan.

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  • Thanks for the mention!

  • noemi laureano

    can you imagine your mom messing up your credit when you were a child and know that your all grown up your credit is messed up.

  • Chris Koloski

    Is there a place where consumers can post their complaints about credit card companys scams so others won’t be tricked as I was?
    Credit card companys can change their intrest rate from time to time,and I understand this, but to raise from a 7% to a 21% for no reason sounds almost like fraud, I could never get away with this in my business.
    Advanta did just that without any good explanation and it’s not just me others have mentioned Advanta as a problem credit card by changing their rates as soon as you develop a balance.
    In the past I would refer Advanta to many other businesses as a good card, easy to manage employee cards, good rates, but now I feel I should warn others of the trickery that these bad credit card companys are doing.
    Some companys will work with you to find a reasonable rate and also try to keep your business, but I did not find that with Advanta.
    I am looking for a place to list what I call the good credit card companys verses the bad credit card companys so that consumers won’t be tricked into signing up with these bad companys.

  • Chris,
    Yes, you can complain about credit card companies to the The Federal Reserve Board. Go to this link: http://www.federalreserve.gov/pubs/shop/complaints.htm. That will tell you exactly what to do. I hope this helps!
    Emily