January « 2006 « Ask Jack About Debt

How to minimize credit card interest rates

By Jack, on January 11th, 2006%

The fact is that credit card companies can raise your interest rates for almost any reason, or (as one contract states) “for no reason at all.” In one of the more egregious cases I [...]; . . . → Click Here to Read the Full Article

Credit card late payments at record levels

By Jack, on January 11th, 2006%

The American Bankers Association reports that the percentage of credit card accounts 30 or more days past due was 4.64% in third quarter of 2005, down slightly from the all time high of 4.81% registered in [...]; . . . → Click Here to Read the Full Article

New collection efforts by municipal governments can hurt your credit rating.

By Jack, on January 10th, 2006%

The Wall Street Journal reports (January 2006) that cash-strapped municipal governments are resorting to collection agencies for fines that were previously ignored if not paid, such as overdue library books, parking tickets, failure to pay transit [...]; . . . → Click Here to Read the Full Article

Regulators force rise in minimum payments on credit cards.

By Jack, on January 9th, 2006%

For years credit card companies lowered their required minimum monthly payment. In some cases the payment was not even enough to pay off the interest, which would mean the loan balance would rise every month [...]; . . . → Click Here to Read the Full Article