credit cards
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I’ve Got a Low Income But Keep Getting Credit and Wonder How to Best Use ItQuestion: Dear Steve, I have an unusual situation, I guess. I have relatively low income due to some health issues, but my brain works. Despite my low income, credit card companies and banks seem to be dying...
- Posted August 7, 2017
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Dvorkin On Debt: Your Credit Card Is Not Your FriendWhy do we use credit cards? It seems like such a basic question, but can you guess the answer? If you said, “Obviously for all the rewards, cash back, and airline miles you can rack up,” well…you’re wrong....
- Posted July 31, 2015
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4 Tips for Living Without Credit CardsCredit cards can be good financial tools for the responsible consumer. In this day and age they can also feel absolutely essential since some stores, vendors and even airlines require plastic (though you can use a debit card...
- Posted February 23, 2015
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Credit Card Fraud Protection in Australia, UK and the USIn Australia, United States and United Kingdom, credit card use appears much the same. The names are familiar – Amex, MasterCard and Visa are the dominant players in all three markets. But the card issuers responsibilities to...
- Posted May 22, 2013
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The Future of Credit CardsThe Future of Credit Cards (via Credit.com) At a recent conference devoted to travel and credit card rewards, executives from Chase, Barclaycard, US Bank, Capital One and American Express were on hand to share their views on...
- Posted May 8, 2013
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University of Georgia Ph.D. Student Sentenced For Fraud And Identity Theft
In early December, Carlton Lewis, a former Ph.D. student was sentenced to 70 months in prison for his role in an identity theft and credit card fraud conspiracy. Throughout the conspiracy, Lewis, who was enrolled as a...
- Posted December 30, 2011
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East Coast Credit Card Fraud Ringleader Gets 12 Years In Prison
An identity thief was sentenced earlier this month to 12 years in prison for managing and east coast credit card fraud ring. Jonathan Oliveras, used counterfeit credit cards encoded with stolen account information up and down the...
- Posted December 28, 2011
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Retail Store Credit Cards: How Many = Too Many?
“Would you like to save 10 percent on your purchase today by applying for a retail store credit card?” Does that sound familiar? Just about every major clothing and electronics store has promotion aimed at getting people...
- Posted November 18, 2011
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Couple Faces Serious Jail Time For Their $25 Million Nationwide Telemarketing Fraud Scam
Kara Singleton Adams, from Georgia, was found guilty last week on charges of wire fraud, conspiracy, and structuring financial transactions, relating to a $25 million nationwide telemarketing fraud scheme. Already convicted in this scheme are three co-defendants...
- Posted November 15, 2011
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I Was Building a New House But the Bank Won’t Give Us What it Appraised For So I Put the Rest on My Credit Cards. – John
“Dear Damon, Was building a new house.. Went to close on long term loan.. The bank would not give us what it was appraised for. I had to you all saving to not lose the house.. I...
- Posted May 28, 2011
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Scott Writes Me and Asks For Help – “We Are Behind And Overwhelmed”
Scott wrote to me at GetOutOfDebt.org and asked me the following question. If you have a question you can visit GetOutOfDebt.org and ask for my free help also. “Dear Steve, We have too many bills and not...
- Posted October 18, 2010
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Teresa Writes In “I Have Too Many Credit Cards”
Teresa “Dear Steve, I have too many credit cards. Where do I start to get rid of them? Teresa” Dear Teresa, Credit cards don’t magically appear in our wallets or purses. They appear because we have done...
- Posted August 21, 2010
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Opal Writes In “I’m Worried About Hurting My Credit If I Close Credit Card Accounts”
Opal “Dear Steve, I have two or three credit card that are debt free. Should I close these accounts since I don’t use them and don’t need but one active card? Would it go against my credit...
- Posted July 26, 2010
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This Time I Asked “Do You Think You Are a Failure When You Break Your Budget?”
Recently I was over on the Finance Your Life blog and asked Doctor S, the blogger there for his opinion on the following question: “Do you become a financial failure when you break the budget just trying...
- Posted July 9, 2010
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How to Get All the Cheap Credit You Want
Today, the average person pays between 16 and 17 percent on credit card balances. While interest charges may seem low when you look at the monthly charge on your statement, over the long run they can really...
- Posted May 30, 2010
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Can I Go Bankrupt On Just My Credit Cards? – Mike
“Dear Steve, Can i go bankrupt on just my credit cards? Mike” Dear Mike, If you have other creditors like loans, car loans, mortgage, etc. then you need to list all creditors in a bankruptcy. You don’t...
- Posted May 7, 2010
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Daniel Writes In – “How Can I Get Out of Credit Card Debt?”
Daniel says, “I’ve been buried in credit card debt and it feels like I make payments each month and instead of things going down, things go up. My interest rates recently went up even though I have...
- Posted April 27, 2010
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Rebecca And Her Husband Are Struggling to Keep The Business Going
“Dear Steve, My husband and I own our own business but have been struggling lately. I work a 9-5 job while he stays at home to run the business. We owe a lot of debt in credit...
- Posted April 27, 2010
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Thu Wrote Me And Said “I’m Really Struggling, My Husband is Disabled, How Can I Get Out Of Debt?”
“Dear Steve, I’m married, my husband is disabled. I have 3 growing children and a 6 year old disabled child. My payroll checks go straight to bills. I use the credit card for foods and miscellaneous household...
- Posted April 10, 2010
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Trish Says “Credit Counselor Is Going Out of Business And I’m Late On Payments”
“Dear Steve, I have been enrolled with a consumer law center that was working with my creditors on my outstanding credit cards. I was late on payments up to 4 months. I was told today that the...
- Posted April 6, 2010
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How Do We Get Out of Debt Without Hurting Our Credit? – Amanda
“Dear Steve, We have a LOT of debt and have some rental houses. Have several cards that are maxed. We still barly make all the bills on time, we don’t want to lose our houses, and we...
- Posted April 6, 2010
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MJ – “I’m Ill, I’ve Got Bills, And I Don’t Know What To Do”
MJ “Dear Steve, I’ve been able to work very little because of severe health issues. Sadly they are on going, with uncertain prognosis. Medical bills mounting as well. (about 5K). I’ve been living off of credit cards...
- Posted February 28, 2010
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I’m in College and Getting Sued by CapitalOne. What Do I Do? – John
“Dear Steve, Full time college student with debt from credit cards and past balance for a college in California. I’m a 21 year old college student (about a year left of school) My student loans are all...
- Posted February 13, 2010
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Kayte Has Drained Her Savings And Can’t Pay The Bills Anymore
Kayte “Dear Steve, My husband and I have roughly $75,000 in credit card debt. Due to the economy, we both have experienced a substantial decrease in our income (i.e., commission based pay). We have exhausted our savings...
- Posted February 7, 2010
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In a World of Hurt Writes and Wants to Know “Should We Tell My Parents?”
I got the question below through the GetOutOfDebt.org site from someone that identified themselves as In a World of Hurt. Feel free to visit GetOutOfDebt.org and ask me your question, you can use an anonymous name, it’s...
- Posted January 21, 2010
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April Writes And Asks “Is There A Debt Program That Can Help Me And Protect My Credit?”
April “Dear Steve, I am married with three children 11, 4 and 3, I also have an 11 year old step son. We live in Jersey. My husband is a disabled vet (from the first gulf war)....
- Posted January 20, 2010
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Steve Writes In “I Want to Cash Out My 401(k) And Pay Off Debt.”
Steve wrote me through the GetOutOfDebt.org site to ask his question below. You can too! “Dear Steve, I currently make $46,000.00 per year with no benefits. My wife’s income is $19,800.00 per year. Three years ago her...
- Posted December 30, 2009
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Teresa Writes In And Asks “What Should I Do Next?”
“I have a lot of debt. I fell behind after being diagnosed with cancer. All the medical bills were paid at first but I maxed out credit cards and then took out a HELOC. The HELOC made...
- Posted December 20, 2009
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Business Noticing Increase in Credit Card Purchases. Not a Good Sign.
Business noticing increase in credit card purchases Bay News 9, FL - 1 hour ago Americans now owe an estimated $850 billion in credit card debt , which is four times as much as in 1990. Consumers aren't...
- Posted December 19, 2009
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We Went to a Bankruptcy Attorney And Was Told Bankruptcy Was Not a Good Thing. – Barcia
Barcia “Dear Steve, Do to lower salary can only pay mortgage or credit cards of 100k. Went to bankrupcty attorney and he said we do not qualify for chap7 and chap 13 was not a good thing....
- Posted July 27, 2009
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Should We Stop Using Credit Cards Altogether in America?
An interesting story on Marketplace about the possibility of living a life without the use of credit cards in the America. Listen to story online. Get Out of Debt Guy – Twitter, G+, Facebook
- Posted July 9, 2009
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Don’t Pay More Than the Minimums on Your Credit Cards
I know this is going to sound like crazy talk but keep reading. Now is not the time to pay more than the minimum payment on your credit card if you don’t have a lot of money...
- Posted March 11, 2009
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Credit Cards From Beyond the Grave – Just Because You Need to Laugh
- Posted December 1, 2008
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Jenni Can’t Make the Car Payment and is Behind on Rent and the Clutch Just Went
Jenni “Dear Steve, I am behind on my car payment. I can’t pay my rent this month. The clutch just went out on my car. I work two jobs but I can’t get to them now that...
- Posted November 28, 2008
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John is Worried His Debt Will Scare Away His Fiancee
“Dear Steve, Here is the situation. I have 50K of debt between credit cards and lines of credit and a 20k vehicle loan. When I first met my fiancee, she asked about credit card debt, I was...
- Posted November 21, 2008
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Ed is Disabled and Falling in Debt Fast. What Can He Do?
“Dear Steve, I am disabled and falling in debt faster than i can handle. I am barely staying alive with trying to feed my family. I am behind on my mortgage and regular bills (utilities). I stopped...
- Posted November 19, 2008
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James Wants to Know If Capital One Will Take His Car If He Stops Paying His Credit Card
“Dear Steve, I can not pay my credit cards,because of sickness. I have a auto loan with Capital One and a credit card with them as well. If I just pay only my auto loan on time...
- Posted November 18, 2008
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Jeff Asks About Trick To Boast Credit Score. “Will It Work?”
“Dear Steve, I have never heard anyone ask this question or any money experts suggest it: If my wife and I have many joint user credit cards and lots of debt, could it help our credit scores...
- Posted November 18, 2008
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More Bad News For Nordstrom and Target Credit Cards
Store cards in good times are a good source of profit with their exceptionally high interest rates but in down times they can be an anchor around profits. Not only are store cards generally easier to acquire...
- Posted November 17, 2008
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So You Have to Use Your Credit Card In An Emergency – Personal Finnance Bloggers Question of The Week
This weeks personal finance brain trust question was: What goes through your mind when people say that they HAD to use their credit card to get by? Is using a credit card when you can’t afford to...
- Posted November 6, 2008
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Sears, Home Depot May Lose 8% of Holiday Sales on Credit Limits
Sears, Home Depot May Lose 8% of Holiday Sales on Credit Limits Bloomberg - 5 minutes ago Outstanding credit-card debt has risen 75 percent since 1999, while real wages have grown 4 percent in the same period,...
- Posted November 3, 2008
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Expect Tidal Wave Of Limit Reductions and Credit Card Closures to Hit Before Christmas
Yesterday I wrote about a little old hardware store that had noticed an increase in card purchases over cash. That’s not a good sign if people are using plastic more for routine things and especially in this...
- Posted November 3, 2008
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Surviving With Less Credit
At ByDesign Financial Solutions, a debt-counseling service in Modesto, Calif., they’re working overtime these days. “Our call volume went up 97% in the past five weeks, which has left us scrambling,” says Martha Lucey, president of the...
- Posted October 31, 2008
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Groups seek credit card debt forgiveness
Groups seek credit card debt forgiveness BusinessWeek - 34 minutes ago issue around 80 percent of all US credit cards. Americans now are weighed down by around $900 billion in credit card debt , according to Federal...
- Posted October 29, 2008
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Soon, Where You Shop Will Control Your Credit
Information is already leaking out about the efforts of American Express to closely watch the places their card members shop at as an indication of credit problems. With mounting losses by credit card companies and an avalanche...
- Posted October 29, 2008
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Consumers Feel the Next Crisis: It’s Credit Cards
Indeed it is. If you're not in top shape for the credit card shakeout that's already taking place, there isn't much you'll be able to do about it. It's probably already too late. After years of flooding...
- Posted October 29, 2008
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Tina Says “My CPA is Under Investigation For Fraud”
“Dear Steve, I am currently unemployed. I have approximately $20k in credit card debt. I have been contacted by the IRS that my CPA is under investigation for fraud and I have to refile my taxes from...
- Posted October 29, 2008
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As Economy Slows, Lenders Begin to Curb Credit Cards
As Economy Slows, Lenders Begin to Curb Credit Cards New York Times, United States - 2 hours ago Currently, the total losses amount to 5.5 percent of credit card debt outstanding, and could surpass the 7.9 percent that...
- Posted October 28, 2008
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Credit Card Horror Stories: Tales of Credit Limit Reductions and Account Closures
Bankrate.com did a story on Friday (sorry for not getting to this earlier) highlighting some of the same stuff that I've been pointing out here for weeks. More and more customers are experiencing credit-limit reductions and account...
- Posted October 28, 2008
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Outrage Over Credit Cards with 222% APR
Outrage Over Credit Cards with 222% APR QCK, UK - 1 hour ago The money must then be repaid at a rate that is more than 10 times the average APR of a credit card. Debt groups and...
- Posted October 28, 2008
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