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Why Can’t I Use My Credit Card?

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When I applied for my new health insurance policy, I gave the insurer my credit card information. After being approved, I learned that the insurance company really doesn’t want me to pay premiums by credit card at all. They strongly prefer that I give them direct access to my checking account. Why can’t I just pay by credit card? It took a long time, and an incredible amount of effort, for me to find an affordable health insurance plan. I haven’t actually had reason to use it yet. My hope is that when I do need to see a doctor … Continue reading →

Credit Card Skimmers

I don’t understand crime. I know that people can reach a desperation point and take things that aren’t theirs because they can’t fill their needs legitimately. I cannot and will not condone it at all. I don’t think I’d be like Javert, but Jean Valjean still should not have stolen that loaf of bread. I read a piece in the paper where the writer said she understood how a woman could steal a baby. The tone of the article was almost forgiving. I couldn’t believe it. I will not carry a successful pregnancy. I miscarried twice and went through years … Continue reading →

Credit Card Companies Can’t Bully Frugal People

In watching the Today Show Money 911 segment, I noticed a person ask what to do as a credit card company raised her rate to 29%. She always paid the credit card on time and had a zero balance. She seemed panicked. I was amused. Frankly I have no respect for credit cards, so I am looking at the question for a jaded point of view. I feel that credit got the nation into this trouble (the recession) in the first place, and so I don’t feel it is worth holding onto. To me, the easy answer to having the … Continue reading →

Fighting Credit Interest Rate Increases

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With the struggles in the banking industry, many financial institutions are looking to their credit card branches to help them recoup losses. Traditionally, credit cards are the most profitable venture a bank or lending institution offers. With the high rates they charge both consumers in interest and the merchants in fees, this is usually a win-win for the company. Unfortunately, consumers are being hurt by this crunch. Many credit card companies are now increasing interest rates to help drive up the profits. Even good customers, with strong credit scores and payment history, are receiving letters notifying them their interest rates … Continue reading →

How to Cancel a Credit Card

If you read my blog entry yesterday, you may be deciding which credit cards you would like to cancel. I thought it might help to offer up a few tips on how to cancel a credit card. First, there is no wrong way to cancel a credit card account. Still, there are some important steps to follow in the process. 1. Make sure you have paid off every cent on your account before you attempt to cancel. Even if you have a small balance, if you try to cancel the card it can wreck havoc with the credit card company. … Continue reading →

Tired of High Credit Interest?

Want to start the New Year off right? Make a few phone calls to your credit card companies. Most people don’t realize that both your interest rates and your credit limit can be negotiable. From a credit score standpoint, keeping the same credit cards with the same accounts for a long time helps your score. Credit history is a key component of both your credit report and the scoring system lenders use to evaluate your credit risk. When you get all these great offers in the mail to switch for a lower rate or even a 0% APR for a … Continue reading →

Credit Cards: Yes, You Can

Use them responsibly, that is. If you need to put them away in order to get them, do so. If you don’t have them completely under control, follow Miriam’s advice until you do. If you’re going to put them away, it’s not necessarily a good thing to cancel them. Never cancel them when you’re in arrears! That will ding your credit score very quickly. Try to keep them open until they’re paid off. If you can trust yourself not to use them and they don’t have an annual fee, you’re better off keeping the accounts. When you close them, it’s … Continue reading →

Credit Cards: The Best Ones for Debt Transfer

So, you’ve read Miriam’s blog about getting a handle on your credit cards, you’ve asked for a lower rate from the companies you still hold cards with, and now you’re ready for the next step – transferring the debt you do have to zero interest or low interest credit cards. Be forewarned – if you do this and don’t change your spending habits, it’s just a step toward more debt. This is a step in debt reduction, not in increasing your available credit, though it will likely have that effect as well. Unless you’re worried that you won’t be able … Continue reading →

Credit Card Debt

Last month, Miriam wrote a very good blog on Five Tips to Help you Stop Using Credit Cards. It’s very interesting, and good advice for those who need to get a handle on their spending (which would be the overwhelming majority of us!) If you have a lot of debt, you may want to add another couple of steps – first, negotiating a better interest rate. Some night when you’re not stressed, take out all your cards and their statements. Arrange them from high to low interest. Is there a big range? Assuming that your credit isn’t in shambles, you … Continue reading →

Insurance Blog Week In Review January 9-15, 2007

It’s been a busy week for so many people in the United States. The weather has been a huge problem with snow, ice and unusually cold temperatures. Get ready to pay a lot more for Oranges and Avocado’s after the deep freeze in Southern California. Many homeowners have suffered the Midnight Disaster, including my little brother. Caught completely off guard with freezing temperatures and a ruptured pipe in the attic. Thankfully, he was able to Ask Anna (or sissy) for help in this matter! When my brother woke up to find boxes falling out of his attic and water flooding … Continue reading →