Emily’s list: Warning labels edition

Jun 24, 2011 Posted Under: Credit Cards Info

This week, the Food and Drug Administration revealed the new graphic warning labels that will be slapped on cigarettes by next year. These nine grisly images depict things such as a man smoking through a tracheotomy and a corpse of someone who smoked. Other images include a smoker’s rotting teeth, smoke surrounding a baby and lungs charred by cigarettes.

Everyone knows cigarettes are bad for you, right? Tobacco kills around 443,000 people in the United States each year, according to the U.S. Centers for Disease Control. About 20 percent of our population still smokes. Cigarette warning labels are already much more prominent in Europe, but the U.S. hasn’t had a drastic change to cigarette packaging in 46 years, when the Federal Cigarette Labeling and Advertising Act of 1965 was passed.

Our new labels are going to take up a lot of real estate, too. According to the U.S.

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Just Two Tenths of One Percent Achieve Highest Possible Fico Score

Jun 23, 2011 Posted Under: Credit Cards Info

A new study from credit analytics company SubscriberWise revealed that less than two tenths of one percent of the scorable population achieved the highest possible Fico score.

So just who are these consumers with 850 Fico scores anyways?

Well, the company found that the median age of these credit-elites was 61, having a birth year all the way back in 1950.

The oldest person to achieve credit score-perfection was born in 1922, while the youngest was born in 1967.

In other words, it takes a while to achieve a perfect credit score, even if you’re doing everything right.

This probably has to due with the fact that credit scoring takes into account the length of a consumer’s credit history, including the age of their oldest account on their credit report, whether it’s opened or closed.

So you really need to build your credit history early on to ensure you have excellent credit in the future.

Simply paying bills on time, keeping balances low, and applying for new credit sparingly won’t be enough for that perfection you seek.

Some gray hairs also seem to be a necessity…

For the record, the SubscriberWise study was based on data from a quarter of a million credit reports, so it seems pretty thorough.

Tip: How to raise your credit score.

Virtual Card

Jun 22, 2011 Posted Under: Credit Cards Info

InsurCard prepaid cards kicked off its “Virtual Card.” Allowing you to conduct electronic claim payments to medical, auto repair, home contractor, and other P&C service providers, the InsurCard “Virtual Card” makes payment faster and less costly. Ensuring rapid, safe payment, the InsurCard “Virtual Card” charge you no implementation fees or transaction fees. So

Play your credit cards right for summer

Jun 22, 2011 Posted Under: Credit Cards Info

Big spenders can make their cash go further by picking the right credit card before a summer shopping spree.

Putting your holiday or garden furniture on a reward credit card can earn you extra spending cash.

But make sure you pay the balance in full every month, because interest charges will always far outweigh rewards.

For those who do want to spread out their repayments, an interest-free deal can help to avoid extra cost.

The key to making the most of reward cards is ensuring that you are only getting perks and cashback for things you will actually use. There is no point earning travel miles with an airline if you dont plan to fly anywhere.

For most people, cashback is often the most flexible way of getting perks. Spending 10,000 on an American Express Platinum cashback credit card would earn you 171 cashback, according to Moneysupermarket.

The American Express card offers 5% cashback for the first three months, with a maximum reward of 100.

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Pilates class using your Chase Ultimate Rewards Points?

Jun 22, 2011 Posted Under: Credit Cards Info

Yes. Yes you can! Chase has many different offerings that you can use your points for. How fantastic! For a private Pilates class, you will only use 10,400 points, or you will be charged $104 on your card. From the Chase website:

Whether you’re new to Pilates or you already practice, a one-on-one session with an expert instructor will help you build a plan to achieve your wellness goals. This 70-year-old fitness workout incorporates both Eastern and Western philosophies of physical and mental conditioning, focusing on improving flexibility and strength overall. Practicing Pilates can help you tone and firm your body through posture corrections and the reconfiguration of muscles, but it also allows your mind to focus and relax with repetitive movement. Your instructor will guide you through a series of movements that will engage your mind and body, leaving you with a sense of strength and balance. <

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How To Get Out Of Credit Card Debt

Jun 21, 2011 Posted Under: Credit Cards Info

Numerous problems surround credit card debt for residents of the UK. One of the main problems is that credit card debt is built to be difficult to get out of because it is profitable for the banks.

The typical person in the UK has at least one credit card, though most average multiple cards.

Credit card interests rates range from 10-30% APR, which means those who pay only the minimum amount each month will struggle to end the debt cycle. It is even harder to pay off the card for those who use it frequently and only make minimum monthly payments. You may never get out of debt if you do follow these standards of use.

The simple steps listed below will make it more than possible for you to get out of credit card debt. For any help or advice regarding your debt problems you can visit your citizen’s advice bureau. They will help answer all sorts of questions providing you with a plethora of information and help to lessen your debt problems.

  • On a piece of paper or in a spreadsheet write down each credit card you have. I

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What is Credit Card APR?

Jun 21, 2011 Posted Under: Credit Cards Info

Credit card Q&A: “What is credit card APR?”

If you’ve seen an ad for a credit card lately, or looked at the terms of your existing credit card, you’ve probably stumbled upon the acronym “APR.”

APR stands for Annual Percentage Rate, and is the method most credit card issuers use to express your interest rate.

Most issuers calculate your interest charges by using the average daily balance, now that two-cycle billing has been outlawed.

You can get a rough idea as to what you’ll pay in monthly credit card interest by multiplying your APR by your balance, and dividing it by 12.

Example:

Credit card balance: $2,000
Credit card APR: 19.99%
Monthly finance charges: $33.31

So if you carried a steady $2,000 credit card balance, you’d pay roughly $33 a month, or $400 annually.

Of course, this is simple math, and doesn’t take into account compounding interest, your average daily balance, your minimum payment, and so forth, but it should give you a general idea of how credit card APR is calculated.

Credit Card APR Based on Creditworthiness

So how do credit card issuers come up with your APR anyways? Well, like any ot

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The Truth about Instant Approval Credit Cards

Jun 20, 2011 Posted Under: Credit Cards Info

Credit cards can provide several benefits in times of financial difficulty, including simplified budgeting, decreased financial burden and various types of rewards, such as discounts or rebates on gasoline purchases and airline tickets. Thus, being instantly approved for a credit card is certainly an appealing proposition, especially when a credit card issuer promises a prospective cardholder that they have already been pre-approved. Although such terms may appeal to sub-prime cardholders who are having difficulty being approved for a credit card, the following information should be considered.

Instant Approval Vs. Possible Approval

The term “instant approval” is somewhat misleading in that the credit card company has really only pre-approved the prospective cardholder based on a light screening. However, as with every other type of credit card, actual approval relies on the applicant meeting a certain set of criteria, which includes having an acceptable credit score. Alt

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