Fast Credit Card Application

If you’re brand new to credit, you may have already discovered that it’s not so wasy to get a credit card when you have no credit. It’s like a dog trying to catch its tail – you can’t get a credit card because you have no credit, but you can’t build credit because no one will give you a credit card.

Fortunately, there are a few places you can get a credit card, even when you don’t have credit. You just have to know exactly where to look. One place to start is with the bank that you currently have a checking or savings account in good standing.

Tags: Credit, Credit Card, No Credit

GeniusWave has created a new travel and utility app for mobile phones called Location Finder for Travel Cards. The benefit of this particular app is that it helps credit card users who are enrolled in various travel rewards programs find participating merchants who also participate in those rewards programs.

Sometimes if you eat in a particular restaurant, for example, you can earn extra rewards points with your card – and this app helps you find those more “rewarding” eateries. The same applies to hotels, stores, car rental agencies, and other kinds of businesses that participate in rewards programs. The new Location Finder uses the phones GPS functionality to give a list of businesses in their immediate area to earn and use their rewards. The Location Finder delivers the list of retailers as well as map access to help cardholders get to those places.

More than 1700 programs and cards are supported by the program. Cards and data are protected with pass code access and advanced security features, including online backup with Cloud Sync and data purge if a phone is lost or stolen.

Tags: Card, Credit Card

A study released on Tuesday from the Pew Charitable Trusts says that credit card late payment fees have declined and interest rates have stabilized thanks to the credit card legislation. While the study notes that the changes occurred two years after the legislation was signed, this could mean the law has truly made an impact.

Credit Card Act Has Made a Difference

The study, which examined about 300 consumer credit cards offered via the internet by the 12 largest banks and credit unions from March 2010 to Jan. 2011, shows that a number of positive changes have occurred as a result of the Credit CARD Act.

One major change is that charges for late payments on U.S bank-issued cards decreased from a median of $39 to a range of $25 to $35. How

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Tags: Card, Credit Card, Interest Rates

It can often be easy for credit card holders to push the interest rates that they will end up paying to the back of their mind, so that they don’t have to feel guilty about making a purchase. Yet, the fact is that credit cards are expensive and any borrower who knows how to add up exactly how much their Visa or Mastercard is costing them, including the interest and fees, is going to be ahead of the game, and make better informed buying decisions.

The first type of cost that consumers should consider is their annual fee. This is usually a small, token amount, but should not be overlooked. A $99 a year annual fee still costs the card holder $1200 every ten years, which should be considered against the card that does not charge an annual fee at all. While it may not be possible to avoid the annual fee altogether, consumers should make informed choices as to whether or not they are getting some benefit by staying with the same credit card if they are paying a high annual fee, and consider switching if they are not.

Consumers should also consider the interest that they will be charged. Fo

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Tags: Card, Credit Card

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