Credit and Loan Blog April Archive

Credit Rules Education

04/20/09 22:09

The rules on the world of consumer credit is steadily changing constantly over the years passing in which these changes affect whether you can obtain credit, and what you pay.

Liz Pulliam Weston - author of "Your Credit Score: Your Money & What's at Stake", said that credit scores have become more important over time which now become a critical factor in the credit industry.

President of consumer education for Credit.com - John Ulzheimer says that the rules in the the credit world is vastly different and we should know these changes so it won't cost your hard-earned money. Some of the new credit industry trends and policies are on the link below.

Link: Consumer credit: 'The rules have definitely changed' over the past year -- chicagotribune.com

Tags: consumer credit • credit rules • your credit score • consumer education •
0 Comments. - Permalink

Student's credit card

we all know that education is very important to everyone and because of that we will do anything just to finish our studies. And to those who is facing financial problem and still wants to pursue their studies, they uses their credit cards to pay for their education, and they're carrying high balances because of it. If less-expensive financial aid is readily available maybe it will the most used alternative in paying the college costs.

Link: More students paying college costs with credit cards -- chicagotribune.com

Fed orders banks to keep mum about stress test results

The Federal Reserved ordered Goldman Sachs Group Inc., and Citigroup Inc. to keep mum about the results of the "stress test" that they made to gauge the capability of these banks to weather the economic crisis.

The Fed wants to make sure that the results will not leak during earnings conferences scheduled this month, as this might push stock prices to go lower for banks perceived to be weak.

Link: Fed Said to Order Banks to Stay Mum on ‘Stress Test’ Results - Bloomberg.com

FICO updates its credit rating system

Consumers will have to pay more attention to their credit scores especially now that we are still in a continuing credit crisis.

Even if banks become more lenient with lending people money, your credit score will still be a large factor to consider whether you will be allowed to money or not, and how much you can possibly loan.

FICO, the body that gives credit scores to consumers, will be upgrading its system. Let's take a peak of some of the highlights of the new system.

Link: Maintaining your credit score becomes even more important during the continuing credit crunch - Managing Your Money - Boston.com

Small-business owners hit by credit crunch

When the economy tumbles, one of the first victims are the small-business owners, who rely largely on banks to finance their capital.

Since a lot of these businesses are not qualified to take on a loan, they end up relying on their credit cards for the necessary capital, which may easily dry up once the banks decide to cut off their credit and/or raise their interest rates.

Link: Credit Woes Hit Home - WSJ.com

Avoid the Tax Bill on Making Work Pay Credit

Some US workers are already seeing the additional cash in their payrolls, thanks to Making Work Pay credit by the government to give them more cash to spend and stimulate the economy.

However, you have to make sure that the additional money is spent for your own consumption and not lost to a surprise tax bill next year. This article from The Wall Street Journal online gives us some tips to make sure it works.

[404 Check: was link to http:/ / online. wsj. com/ article/ BT -CO -20090403 -704859. html, anchor: Link: Article - WSJ.com]