As the August 2 deadline for raising the debt ceiling grows near, several economists and organizations, let by Warren Buffett, are calling for an end of the debt ceiling entirely, arguing it is nothing more than an “artificial limit” that ends up wasting time in Congr …

Filed under: Credit, Credit Cards, Insurance, Real Estate Market, Refinance, VRN | No Comments »

New rules just implemented will make it easier for people to correct inaccurate information contained in their credit reports.

Filed under: Commentary, Credit, Credit Cards, Current Events, Money-Saving, VRN | No Comments »

Starting June 1, 2010 Fannie Mae is going to implement some changes to their underwriting process. Most of them are minor and will not have any impact, but the one that MAY change things is the lenders will be pulling a NEW credit report prior to ordering loan documents and/or closing.

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She was startled by what happened next. When she swiped her debit card at the grocery store, it was declined. It turned out Capital One Bank had taken $224.25 from her paycheck, a quarter of her wages for two weeks of work at a retail chain, and her bank account was overdrawn.

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ANY AMOUNTS YOU PAY OVER THE MINIMUM PAYMENT WILL NOW BE USED TO PAY DOWN YOUR BALANCES WITH THE HIGHEST ANNUAL PERCENTAGE RATE.

Filed under: Credit Cards, Current Events, Economy, VRN | No Comments »

How about Congress and the Administration, using part of the $787B Stimulus money, negotiate consumer debt down with credit card banks by paying them pennies on the dollar with our tax dollars instead of giving banks money to lower our credit limits, raise our rates and penalize us? Save credit revolvers which are most Americans [...]

Filed under: Credit Cards, Economy | 1 Comment »

Three men have been indicted in what the Department of Justice is calling it the single largest hacking and identity theft case ever prosecuted. Albert Gonzalez and two other unnamed individuals hacked the computer systems of several large corporations, accessing the debit and credit card information stored on their databases.

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Raising taxes is one way to make the banking vampires go away by bleeding us all white.

Filed under: Commentary, Credit Cards, Uncategorized | No Comments »