Written by Tim Peak on November 22, 2011.
Plenty of studies have shown that consumers tend to spend more when they use a credit card than when they pay with cash or check.
Credit cards are easy to swipe. The purchases often don’t seem as real because you can pay them over time. There’s no “pain” of counting out bills or calculating a balance in a checkbook.
But two authors of a new study in the Journal of Consumer Research have found that credit cards are influencing not just how much we spend, but how we feel about the items we’re buying.
Their study shows that under the spell of credit cards, we are more likely to focus on the positive aspects of the purchase and not on details, such as cost and how we’re really going to use it. Ignoring those aspects can lead to overspending or buying things we don’t need.
Subjects were “primed” to think about credit or cash In the study by Promothesh Chatterjee, assistant professor of marketing at the University of Kansas, and Randall L. Rose, chair and p
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Written by Tim Peak on August 25, 2011.
According to recent reports there are many borrowers in Britain who are now raiding their savings accounts in a bid to try and clear some of their credit card debt. Many struggling consumers are now so overstretched with their finances that they are having to dip into savings, often money that has been put aside for emergencies, to try and clear credit card debt that has accrued over the past couple of years in order to try and lighten the burden of debt.
It is thought that nearly five million people have managed to get out of credit card debt in the past twelve months, many of whom have raided their savings in order to repay the debt.
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Written by Blake Teen on July 24, 2011.
If you have bad credit standing at the moment or a student with no credit score, then you are probably planning to apply for an unsecured bad credit credit card. If you are, it is good to remember these five tips on how to wisely use it:
Tip # 1 Never be late on your monthly payments
You should never be late on paying your monthly credit bills. Most credit companies will send you monthly statement of accounts and email notifications to remind you of your due date of payment so it should not be difficult to pay on time.
Tip # 2 Never spend over your credit limit
It is also very important that you do not spend over your credit limit.
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Written by Tim Peak on June 20, 2011.
Did you know you’re entitled to a free credit report when you have an application denied because of information in your credit report? You have 60 days to order this free credit report so you have to act quickly.
Now, some lenders will send a free credit score when you’re denied or approved with less favorable terms.
How to Get a Free Credit Report When You’re Turned Down For Credit
Written by Tim Peak on May 20, 2011.
Earlier this year, Experian, one of the three major credit bureaus, purchased RentBureau, a company that collects rental history from property management companies. This is good news for millions of people who pay their rent on time every month but get no credit score boost from those positive payments.
Not only will Experian sell rental reports to landlords checking your rental history, they’ll also include some rental data on your credit report and include that information in your credit score.
Only Experian has this rental data. For now, your Equifax and TransUnion credit reports won’t include your positive rental history. However, they may include evictions and delinquent rental balances.
Every renter won’t have their rent payments updated on their Experian credit report.
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