Credit Cards - Credit Scores, Credit Cards: How Consumer Finance Works: How to Avoid Mistakes and How to Manage Your Accounts Well
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List Price: $11.95
CardsDebt.info Price: $19.70
Availability: N/A
Manufacturer: Silver Lake Publishing
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Average Customer Rating: 
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Binding: Paperback
Dewey Decimal Number: 371
EAN: 9781563437823
ISBN: 1563437821
Label: Silver Lake Publishing
Manufacturer: Silver Lake Publishing
Number Of Items: 1
Number Of Pages: 288
Publication Date: 2005-02
Publisher: Silver Lake Publishing
Studio: Silver Lake Publishing
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Editorial Reviews:
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How to make sure your credit history, financial data, account information and other essentials are strong and safe! In 2001, the average North American consumer spent nearly $40,000 on credit cards. By 2005, this average person will carry over $50,000 in consumer debt - not counting mortgages or car loans! This unsecured consumer debt is fundamentally changing the way Americans live: * the tradition of a home owned free and clear has become unusual as people borrow against their homes and refinance repeatedly to pay for discretionary spending * financing vacations, electronics and dining out with multiple credit cards is commonplace At the same time, credit scores have become the golden keys to successful borrowing. But what does it all mean? How do you know you’re managing your credit wisely? In a credit-based economy, your credit score means as much to you as money in the bank meant to your grandparents --and here's how to protect it!
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Spotlight customer reviews:
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Customer Rating:
Summary: Shows how credit works in plain English
Comment: It's no great revelation to say that America has become a credit economy. Credit can bring an upper-class lifestyle to the middle class, and it can be the instrument of a person's financial downfall.
There are many ways to measure a person's financial condition, but the benchmark is a FICO (Fair, Isaac and Co.) score. Those with a higher score can expect lower interest rates. However, those with a lower FICO score should plan on much higher interest rates, leading to higher bills each month, making their financial hole deeper and deeper. It will take months, even years, of diligent effort to raise your FICO score, but it is possible, and a really good idea.
Get rid of all but one or two cards. After you pay off one card, cancel it and destroy it. Read your credit card bill, not just the amount owed. Call your credit card issuer, and ask about a payment plan or lower interest rate. Get a free copy of your credit report from one of the major credit agencies, and read it. If there are any errors on the report (there is a good chance that there are errors), start writing and calling the appropriate persons. Document everything, and expect it to take lots of time.
For those with bad money problems, start with two simple steps. Make a budget and stick with it, and pay down your debts (even a small payment is better than no payment). Be very wary of the companies that promise to get you out of debt trouble; they may just make your problems worse.
The information in this book may seem like common knowledge, but considering the skyrocketing level of credit card debt, and the rising numbers of people living off their credit cards, it certainly bears repeating. This book does a fine job of showing, in plain English, just how credit works.
Customer Rating:
Summary: Credit Scores, Credit Cards: How Consumer Finance Works: How to Avoid Mistakes and How to Manage Your Accounts Well
Comment: Great book for any one who wants to know how credit card companies operate.
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