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 Check, Credit Card or Debit Card? Choosing a Payment Method for Security and Convenience    September 2007
How do you pay for everyday purchases or bills? Cash? Check? Credit Card? Debit Card? If you are like most people, you use a combination of these methods—and more. The advent and growth of electronic banking has encouraged many people to move more and more from paper (cash, checks) to plastic (credit cards, debit cards). All these payment methods have roles to play in personal financial management today. All have their advantages and drawbacks. All can be used securely with proper precautions. All have consumer protections should fraud or theft occur, but those protections may vary depending on what the issuing institution offers you. This report offers a brief overview of the facts you need to make wise choices for your circumstances. Read more: Check, Credit Card or Debit Card? Choosing a Payment Method for Security and Convenience Why Not Buy a Car on eBay or Another Online Auction Site?August 2007
eBay has become the gorilla of vehicle sales virtually overnight—they’ve facilitated over two million vehicle sales since starting their program. What’s not to like about that? A lot of things. Before you even head to the eBay site to simply poke around, think about this:
Read more: Why Not Buy a Car on eBay or Another Online Auction Site? Payday Loans—Still the Most Expensive Way to BorrowJuly 2007
Countless advertisements on storefronts, on TV, in print media, and over the Internet entice cash-strapped consumers with offers of “cash today” with “no credit check”—just borrow against your next paycheck. Since my 2004 StraightTalk Report on payday loans, the industry has continued to grow dramatically, particularly on the Internet. Payday lenders hawk their loans as a useful “service” that helps consumers meet short-term, emergency needs for cash at a modest cost. The facts tell a different story. About ninety percent of revenue for payday lenders comes from borrowers who can’t pay off their loans at the end of their two-week term and pay additional fees to extend or “flip” the loan, according to a well-researched report by the Center for Responsible Lending. Annual percentage rates (APR) typically range from 400% to over 1000%. Borrowers of a $300 loan often end up paying back well over $700. Read more: Payday Loans—Still the Most Expensive Way to Borrow Thinking about Buying a First Home or Moving Up to a Larger Home?Lessons You Can Learn From Today's Housing MarketJune 2007
The housing market has been much in the news recently. After years of steadily rising home values, the market has cooled. In many areas, home values have leveled off; and in some areas, home values are actually going down. At the same time, a record number of home foreclosures have been reported to date in 2007. The press is full of news about rising default rates, particularly for “subprime” mortgages. As some of the heavily marketed “creative” financing products such as Option Adjustable Rate Mortgages (ARMs) “reset,” many homeowners suddenly face higher monthly payments they can no longer afford. The impact appears to be unsettling to the whole market. If you are thinking about buying a first home or perhaps a larger home to fit your growing family, what can you learn from what’s been happening in the housing and mortgage markets? For savvy consumers, recent events offer many sound lessons that lead to smarter decision-making. Read more: Thinking about Buying a First Home or Moving Up to a Larger Home? Tips for Improving Your Credit ScoreMay 2007
Whether your credit is already good or could use some improvement, managing your personal finances in ways that enhance your creditworthiness is always smart. Adopting sound practices that enhance your credit score is a good place to start. The topic of credit scores has been in the personal finance news since credit reporting agencies began to make such scores available to consumers a couple of years ago. Of course, this event also opened the door to a number of Web-based companies that offer to provide your score and charge outrageous fees for what may be inaccurate information and for what you can get yourself for much less. The StraightTalk Report, “What is a Credit Score, and How Can it Affect Your Credit?” explains credit scoring and tells you how to get accurate info about your scores for a reasonable fee. What Is a “Credit Score” And How Can It Affect Your Credit?April 2007
Credit Scoring is a system of statistically analyzing credit reports that provides a simple three-digit score comparing an individual’s past and current credit performance to that of similar consumers. Your credit score provides lenders, or other potential creditors such as insurance companies or landlords, a quick, fairly objective way to assess your creditworthiness—or likely ability to pay back a loan or mortgage or pay the rent. Knowing your credit score (along with regularly checking your credit report) is a smart thing to do. What is a credit score?A “credit score” is often called a “FICO score,” after the Fair Isaac Company, which developed the most widely used analytical system and software. It may also be called a “credit rating.” Although individual credit bureaus or credit reporting agencies (CRAs) adapt, add to or modify Fair Isaac models to suit their needs and provide their own credit score, most use the FICO score or system as a foundation. Read more: What Is a “Credit Score” And How Can It Affect Your Credit? Page 6 of 14 << Start < Prev 1 2 3 4 5 6 7 8 9 10 Next > End >> |
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