Fast Credit Card Application

The Sacramento Bee newspaper reported in early May that according to the major credit rating agency Moody’s, defaults on credit card payments are about to hit their lowest level in 20 years. Credit card defaults will reach a 20-year low by next year, Moodys Investors Service said Monday, as card issuers remain choosier in their lending practices.

For the past few years card companies have dealt with billions of dollars worth or lost revenue due to uncollectible credit card debt. They made it harder to get credit card applications approved, they raised penalties and rates, and they lowered lines of credit for their customers. But it appears now that with the worst behind them these card companies are once again back in business and eager to offer cards and credit.

For the past couple of years, for examples, defaults added up to a grand total of nearly $75 billion in losses – and that was at just six of the biggest banks and card companies like Amex, Citi, Chase, Bank of America, Capital One, and Discover. But the momentum of charge-offs or defaults finally hit a crescendo during the middle of 2010, and now the tide seems to have turned with calmer seas in the financial forecast. Bec

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Tags: Credit Card, Low

Google announced in a news conference on Thursday its release of a new application that will allow Android smartphones to act as credit cards. The application is called Google Wallet and will integrate credit or debit cards, loyalty cards, gift cards and others into a single application.

How Google Wallet Will Work

According to Google, the application will only work with Android phones from Sprint Nextel that have wireless chips built into them for tap-and-pay. The phones with the near-field-communications (NFC) chips built into them will have a special sticker on them. Older Android phones will be able to have the chip installed.

While Android owners will be able to use the phones in 311,000 stores worldwide that have installed MasterCard terminals, the phones are currently only being offered in New York and San Francisco for now to test the market more accurately.

Application Security and Fraud Concerns

When Google originally announced its plans to release the application in Nov. 2010, concerns about safety emerged. The head

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Tags: Card, Credit Card, Google Wallet

Verdict: The Platinum Card(R) from American Express offers the highest level of top-tier benefits to cardholders – the prestige associated with card membership is like no other program available. The rewards program is like no other and the annual fee of $450.00 seems minimal when compared to the rewards that cardholders have access to.

Overview: Like many American Express cards, the Platinum Card is a charge card, not a credit card. This means that you must pay your balance in full every month. This does eliminate any worries about interest rates. But make sure that you don’t spend more than you can afford to pay off every month.

How This Card Works: This is a rewards card, allowing you to rack up Membership Rewards points with every purchase that you make with your Platinum Card. You can then turn these points into gift certificates, free airline miles, hotel stays, car rentals, home electronics and other merchandise.

Travel and Shopping Benefits: You’ll earn one Membership Rewards point for every dollar that you charge with your Platinum Card. You’l

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Tags: American Express, Card, Platinum Card

It’s hard to stay motivated paying off your debt. You sacrifice and send payments month after month, but your balances seem to inch down.

Creating milestones in debt plan can keep you from becoming discouraged. Milestones are mini-goals that you’ll pass on your way to debt freedom. As you reach a milestone, give yourself a small reward to remind you of the great progress you’re making.

Tags: Debt, Debt Payoff

Credit card issuing banks are lobbying federal regulators in an attempt to put restrictions on who qualifies for a credit card. Under their proposed changes, for example, if your spouse makes the family income but you stay at home and don’t draw a salary because you are raising kids or caring for a sick parent then you won’t be eligible for a credit card of your own.

The card companies argue that giving cards to people who do not have any verifiable income is a mistake, and that many people who fall into that category end up defaulting on their payments. Blaming this kind of credit for many of the recent problems with credit card delinquency and nonpayment, they say that they believe those who do not earn a paycheck should not be issued plastic.

The rules are expected to go into effect by the end of the year. So credit card industry experts say that if you are one of those stay-at-home consumers who doesn’t have steady income, you may want to hurry and apply for your credit card now, before the restrictions take hold. Then

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Tags: Make, Make Harder