Search results for bad credit
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Posted
Jan 10 2008, 10:06 AM
by
Karen Datko
Rating:
Money Blog: Smart Spending Blog - MSN Money
This post comes from David Wood at partner blog ConsumerAffairs.com. While junk e-mail keeps us busy hitting the delete button, unsolicited advertisements and offers through old-fashioned snail mail also can sow the seeds of confusion. Not many do this better than a Nevada-based credit offer called First National Card. First National Card -- offered by both Consumer Credit Services Inc. and Capital Credit Alliance Inc. -- is one of the most confusing and complained-about credit offers anywhere. The two companies -- CCS and CCA -- reside in the same Las Vegas office building and offer the same products, but are owned by two different people. They generate numerous consumer complaints annually to consumer protection agencies, Web sites and just about anyone else willing to listen.
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Posted
Oct 13 2008, 08:23 PM
by
Karen Datko
Rating:
Money Blog: Smart Spending Blog - MSN Money
If you want to buy a General Motors vehicle with GMAC financing, you'd better have your financial ducks in a row. GMAC Financial Services announced today that it's temporarily limiting contracts to people with at least a 700 credit score.
"The credit markets are tightening up everywhere and this is just a reflection of that,'' GM spokesman John McDonald told Bloomberg.com. "Dealers have a number of options for customers, including GMAC and non-captive financing, to be able to finance vehicles.''
Whether this will have a widespread impact on GM car sales is debatable. It appears that when the economy is unpredictable, smart people aren't looking for new debt.
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Posted
Jan 25 2008, 12:38 PM
by
Karen Datko
Rating:
Money Blog: Smart Spending Blog - MSN Money
Before his happy experience with CashCall, "Chris B." wrote at CashCall's "testimonials" page, "I have never dealt with a company who was willing to give the little guy a chance without feeling like I was selling my first born." Well, maybe not your firstborn this time, but how about the roof over your firstborn's head? CashCall's Web site advertises loans with interest ranging from 24.58% APR to an astronomical 141.42%. At CashCall, you can conveniently look up the interest rates available in your state. The highest in California, a 99.25% APR, applies to a $2,600 loan with a payment schedule of 42 payments of $216.55. So, after you subtract the $75 loan fee, you're paying $9,095.10 to borrow $2,525. In all fairness, we must mention that the site also lists a $2,600 loan at 26.88%, and, according to the Web site, there is no penalty for prepayment.
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Posted
Jul 31 2008, 09:59 AM
by
Karen Datko
Rating:
Money Blog: Smart Spending Blog - MSN Money
If you're paying big bucks to credit-repair companies to piggyback on other people's good credit and artificially increase your score, the credit-score police will no longer be fooled.
So says Fair Isaac Corp., the company that devised the widely used FICO credit score. Fair Isaac has figured out a way to detect when people are abusing the privilege of authorized-user status on other people's credit cards. "Fortunately, we were able to come up with technology that makes it much harder to game the system," Fair Isaac chief operations officer Mike Campbell told CreditCards.com.
This is good news for consumers.
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Posted
Dec 03 2008, 06:45 AM
by
Karen Datko
Rating:
Filed under: banking, The Dough Roller, mortgage rates, credit rating, credit cards, credit reports, credit card rates, credit score, bad credit, car insurance, insurance rates, homeowners insurance
Money Blog: Smart Spending Blog - MSN Money
This post comes from partner blog The Dough Roller. We all know just how important our credit score is when we apply for a loan. High credit scores get approved, while low scores do not, subject to other factors, of course. But your credit score and credit history affect a lot more than whether you get approved for a loan. Here are seven unexpected ways your credit score and credit history can affect your finances.
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Posted
Dec 26 2008, 02:57 PM
by
Karen Datko
Rating:
Money Blog: Smart Spending Blog - MSN Money
Do you want to pay less for cell service but you're not interested in a prepaid plan? Mobile Maven -- a valuable resource for anyone who wants the most value from a mobile phone -- has some tips for cutting your costs in a post called "10 useful secrets the cell phone carriers don't want you to know." Some apply only when you're getting new service. Others might come in handy right now. For instance, did your service come with free trials on packages that you're now unknowingly paying for?
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Posted
Feb 09 2009, 10:15 AM
by
Karen Datko
Rating:
Money Blog: Smart Spending Blog - MSN Money
You've seen the online photos of construction in Dubai -- the crazy-tall skyscrapers, luxurious malls, manmade islands and indoor ski slope.
Well, the swell times are over, and high-living, debt-ridden expatriates are fleeing in droves and abandoning their luxury cars at the Dubai airport -- about 3,000 in recent months.
Authorities have found the car keys inside. "Some had used-to-the-limit credit cards in the glove box. Others had notes of apology attached to the windscreen," said a story in the Times. Desperate times call for desperate measures in a country where you can be jailed for a simple bounced check.
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Posted
May 26 2009, 10:27 AM
by
Karen Datko
Rating:
Money Blog: Smart Spending Blog - MSN Money
This post comes from Jim Wang at partner blog Bargaineering.
Despite the recession, I haven't seen a lot of personal bankruptcy stories. Many businesses are folding and personal bankruptcies have increased, but the mainstream media hasn't published many sensational articles spotlighting a remarkable spike in bankruptcies.
Does that mean it's on the horizon? Or is it simply not news when you can talk about a domestic auto manufacturer calling it quits? Either way, I think it's important to understand the different types of bankruptcy, even if it is a dirty word, because it could one day help you if you're in trouble.
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Posted
Jun 26 2009, 05:00 AM
by
Karen Datko
Rating:
Money Blog: Smart Spending Blog - MSN Money
This post comes from partner blog The Dough Roller.
Have you ever been turned down for a checking account? While denials are more common when applying for credit, you can also be declined when applying for a bank account.
If you have been declined, it's likely due to a reporting agency that many have never heard of, but has a lot of information about and influence over banking customers. It's called ChexSystems.
Most have heard of the three major credit reporting agencies -- Experian, TransUnion and Equifax. But there is a lesser-known but equally important reporting agency for checking accounts called ChexSystems. Run by Chex Systems Inc., ChexSystems provides account-verification services to its financial institution members to aid them in identifying account applicants who may have a history of account mishandling (for example, people whose accounts were overdrawn and then closed by them or their bank).
We'll take a look at ChexSystems and how it works. Then we'll look at how you can get your ChexSystems report.
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Posted
Aug 31 2009, 11:22 AM
by
Karen Datko
Rating:
Money Blog: Smart Spending Blog - MSN Money
TMZ, the news source for all things Michael Jackson, expressed amazement that MJ had terrible FICO scores.
"Here's a shocker -- Michael Jackson had an abysmally low credit score," said a story at the Web site. In 2007, TMZ says it has learned, Jackson's scores from the three major credit bureaus were 592, 524 and 575, averaging out to just under 564.
It's really no surprise, considering his well-documented ultra-extravagant spending and financial woes, including the fact that Neverland Ranch nearly slid into foreclosure. But there's a lesson for everyday people in the specifics that caused the King of Pop to have poor scores.
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