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Credit Card eZine - News and Articles about Credit Cards

Credit Card eZine - News and Articles about Credit Cards

Get even more information on credit cards? Read our Credit Card eZine. The section is regularly updated by our specialists. Learn all the financial tricks. Know the pitfalls and hidden bonuses. Find out how to transfer balances and accumulate points. We will tell you about the latest offers on the market.Get your credit card education and make the most out of your plastic.

Credit Card Deals- Myths and Realities about Credit Repair


Once you have a low credit, no matter what are the reasons of this decline, you can hardly make good credit card deals with low interests. Even if you've got the card, most obviously, the interest rate is pretty high. There's probably no one who will put up with the following verdict, so people work hard to improve their credit rating. As credit is a complex concept, there are a lot of customers who are not aware of credit card basics. Perhaps, that's the reason why there are so many myths and fallacies in regard of credit, or to be more exact about credit repair. Some cardholders don't bother much about this problem, until it's too late. Facing huge financial difficulties, they're ready to believe anything. So, what are those credit repair myths?

First, most consumers believe that the information in their credit reports cannot be changed. In reality, it's just the other way round. Cardholders should check their credit reports for inaccuracies, as they have a negative effect upon your credit score. Once you have found any errors, you need to contact major credit bureaus in order to correct these errors.

There's also a myth that you cannot check your credit, or if you are allowed to do this, it will cost you a pretty penny. Though credit reporting agencies provide their services for a charge, it's relatively small. Besides, three major credit bureaus provide you with a free copy of your credit report once per year. This way, you've got the opportunity to check your credit report three times a year for free.

There's another myth, according to which it's better to make many inquiries on your credit report. In fact, it may have the opposite effect. Make inquiry as the need arises, if not, there's no need to do this.

Second, it is believed that credit can be repaired instantly. Most obviously, this myth was created by the companies that use such scams in order to appeal more customers. Desperate cardholders are ready to believe this beautiful lie and fork out large sums of money. Normally, such customers end up facing even more serious difficulties.

Third, there are a lot of people who view bankruptcy as a fresh start. Actually, it's far from the truth, and bankruptcy is no clean slate. Filing for bankruptcy should be your last resort, as it may lead to numerous problems with credit loans. You'd better avoid bankruptcy if it's possible, as it has the dramatic impact upon your loans.

Fourth, most customers believe that they don't need to participate in credit repair, meaning only credit repair companies and your attorney are to do this. That's a big mistake! You attorney may help you to clear up some points concerning your state's laws. As for the rest of the work that should be done, it's not so difficult, and you'd better do it yourself if you want to reap better results in the long run.

All in all, credit repair is a great thing when it comes to improving your credit rating. Still, you should become knowledgeable about the most prevailing myths in the credit repair industry and overcome them. Being armed with proper information, you are likely to reach your financial goals and improve your credit situation.

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[Sunday, December 18, 2011]
Chase Bank recently announced the redesign of its Visa credit cards - allowing more space on the front for the Chase logo. This new design is in trial mode currently but Visa has pans to roll out its new design to other financial institutions in order to increase the branding and logo visibility of the individual issuing banks.
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[Friday, October 28, 2011]
Debit and credit: they`re both plastic, why not consolidate them? The Cinncinati-based Fifth Third Bank, is the first to offer the DuoMasterCard which consolidates both a checking and a credit card account into one card.
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[Wednesday, September 21, 2011]
It really pays when you do the right thing. Take credit cards for instance, having a clean credit profile really does help. Those who managed to maintain a squeaky clean credit report during the recession can now jump with joy, as they will get some of the best deals from credit card issuers.
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