Fair Credit Score Offers

The current rates of credit cards are as high as they have ever been in the last four years with the national average on new card offers standing at 15.14%. Just six months ago, the rates were averaging 14.75%. These rates are just the national average and many credit card holders are actually paying much higher rates.
Unlike other interest rates including those for mortgages which are seeing 50 year lows, credit card interest rates are getting higher. Even the best customers are paying around 3.25% on monthly interest charges.
Experts contend the skyrocketing rates are largely an ‘unintended consequence’ of the Credit Card Accountability, Responsibility, and Disclosure Act (CARD Act) which was passed by Congress in order to stop unfair practices by the credit…

Consumers that have sworn off credit cards in pursuit of better credit may instead find it difficult to see a boost in their scores. Applying for a credit card actually is one way to ensure better credit, provided the card is used sensibly and for the good of your score.
Why Credit Cards Matter
A credit score is comprised of many factors. One of which is the type of open and active accounts a consumer maintains. While it may have taken years to satisfy prior credit card debts in full, closing out accounts or leaving them inactive actually can hurt a score.
In order to achieve better credit, a consumer needs to show a nice balance between the types of accounts they have and how… Read More →

Since the new laws of the CARD Act have changed the way credit cards work, young adults under the age of 21 are no longer allowed to apply for a credit card on their own. The only way they can secure a card is if they have verifiable proof of sufficient income to cover credit obligations or if they have a parent co-sign the credit card application. While it seems like an easy resolution to a situation, a parent who considers co-signing for their child should think twice.
Consequences to a Co-Signor
If a parent elects to co-sign on a credit card application for a teen under the age of 21, they are essentially committing to be legally obligated for all debts accrued on the… Read More →