Credit News and Advice

The First Ever Carnival of Consumer Credit

Welcome to the first ever Carnival of Consumer Credit! This carnival comes at an important time, when credit is on everybody’s minds. The role credit plays in the lives of both consumers and businesses worldwide is changing. We can expect credit to be less readily available not only in the coming months, but in the coming decades. Knowing this fact, it’s more important than ever that we learn how credit works and how we can make it work for us—and not against us. Full Article »

Your Credit Report Matters More Than Your Credit Score

Are you obsessed with your credit score? Do you check it every month to see if it’s gone up or down? If you are looking only at your credit score and not at your entire credit report, you’re missing the point. Full Article »

Prepaid debit cards: Big fees, small perks

There’s a new kind of plastic in town. Prepaid debit cards are becoming increasingly more common on college campuses and elsewhere as credit card companies look for ways to add new customers without extending credit to risky consumers with no credit history or past credit problems. Prepaid debit cards solve that problem for card issuers, but they give consumers few benefits at all. Full Article »

If you pay a credit card late, it matters just how late you are

Credit card companies love it when you pay them late. They can charge you fees of up to $39 and even double your interest rate for up to a year. But paying your credit card late isn’t just expensive, it will hurt your credit score and influence your future ability to get credit. Fortunately, however, your credit score may not go down every time you pay late. Here’s why. Full Article »

New Delta Reserve Credit Card fast-tracks SkyMiles members to elite beneifts

The new Delta Reserve Credit Card by American Express gives Delta SkyMiles frequent flyers a whole new world of credit card benefits. Full Article »

Business credit cards say “yes” even when lending gets tight

For small business owners, the tight credit market can mean more than delaying the purchase of a new car or home—it can make or break your business. Banks are shrinking business lines of credit and saying “no” to new business loans—even for borrowers with impeccable credit loans. In these tough times, business credit cards can offer business owners, entrepreneurs, and even freelancers or professionals who travel for work the large credit lines and low rates they need. Full Article »

Consumer borrowing drops for first time in 10 years

CNN reports that consumer borrower fell in August for the first time since 1998. Full Article »

The Flip Side of the Credit Cardholders’ Bill of Rights

Congress voted last month to pass the so-called Credit Cardholders’ Bill of Rights. The law would change some arguably deceptive credit card industry tactics in favor of consumers. For example, credit cards could no longer raise interest rates just because you make a late payment on another loan or credit card, and they would have to stop applying payments to balances with the lowest APR first. We think this bill is great–although this Wall Street Journal article raises an interesting argument against the Cardholders’ Bill of Rights. Full Article »

Introducing the Carnival of Consumer Credit

ArriveFinancial.com is pleased to announce a new blog carnival: The Carnival of Consumer Credit. The first edition of this carnival will be published here at Arrive Financial on Monday, October 20, 2008. Full Article »

Credit card issuers limit approvals, lower credit lines

Think the mess on Wall Street hasn’t hit home yet? Think again. For millions of consumers, today’s economic crisis means fewer credit card approvals, lower credit lines, and higher balances. Full Article »

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