credit cards | Out of Debt Again

Those New Laws Regarding Our Credit Cards

By Mrs. Accountability on February 9th, 2010

Have you gotten any notices about the changes? I have received several.

My GE Money Lowe’s card (which I haven’t used in years) arrived with this information:

Due to new credit card regulatory requirements, we will no longer be permitted to offer “no payment” promotions. As a result, starting on February 1, 2010, any new financing promotions offered on your Lowe’s Consumer Credit Card will require minimum monthly payments during the promotional … click here to continue reading Those New Laws Regarding Our Credit Cards

Mr. A’s Credit Score

By Mrs. Accountability on October 25th, 2009

Mr. A has dealt mostly with cash in his life, so in February of 2008 I had him apply for a secured credit card so he could begin building his credit. We put $600 into the bank, and they held onto it while we used the card to buy gasoline and paid it in full each month. Before I had him apply for the card, I tried to pull … click here to continue reading Mr. A’s Credit Score

Consolidating Our Credit Cards

By Mrs. Accountability on October 23rd, 2009

For some reason I have been having trouble bringing myself to use our $20K line of credit. I have just been procrastinating, even though the interest rate is 10.2% as opposed to the highest credit card which is 13.24%. The other credit cards are below 10% (amazingly).

Mr. A and I have been having financial discussions and last weekend we signed a contract so we’d be on the same page … click here to continue reading Consolidating Our Credit Cards

My Credit Score – Has It Really Jumped 31 Points?

By Mrs. Accountability on October 17th, 2009

If you are visiting from the Money Hacks Carnival #85 hosted at Green Panda, welcome to Out of Debt Again! Thank you Green Panda for including my post in today’s carnival!

I was reading through some of the carnivals I’d entered in the last week and I came across Sun Financial’s entry Is CreditKarma Useful? From there, through a series of clicks here and there, I landed up at … click here to continue reading My Credit Score – Has It Really Jumped 31 Points?

Guest Post: Managing Your Finances in Changing Times

By Guest Author on October 16th, 2009

Today I’m giving the floor to Trisha Wagner. She’s a freelance writer who has volunteered to provide a guest post today at Out of Debt Again.

Managing Your Finances In Changing Times

A changing economy requires changes in how you manage your finances. When facing tough economic times many consumers have learned the hard way that the wrong money management strategy can have disastrous results. For those of you … click here to continue reading Guest Post: Managing Your Finances in Changing Times

Transferring Balances

By Mrs. Accountability on September 17th, 2009

On August 16th I said, “I am going to make a point this month to transfer two credit cards over to another one that is offering 0% interest until May 2010. I am tempted to go with the 2.99% interest for one year… but will probably go with the 0% offer. I had better hurry and do the transfer, before they decide to do me a favor and close the … click here to continue reading Transferring Balances

To Close or Not To Close?

By Mrs. Accountability on September 12th, 2009

Jeremy over at Generation X discussed whether or not one should close a credit card account in his recent post If You’re Going to Consolidate Then You Have to Stop Using Credit.

Since we’ve been looking into refinancing our home, and rolling in the credit card debt, this post says many of the things which I’ve been thinking and worrying about.

Jeremy discusses in the third paragraph To Close … click here to continue reading To Close or Not To Close?

Credit Card Worries and Update

By Mrs. Accountability on May 27th, 2009

President Obama signed a new bill regarding credit card rules which will go into effect in 9 months.

I need to do some research on it as I have heard there are some good and bad points to the new bill. I’ve heard that it could have an effect on “responsible” credit card users – by that I mean those who pay their bills on time, pay more than the minimum, … click here to continue reading Credit Card Worries and Update

Just What I Needed, More Credit

By Mrs. Accountability on March 27th, 2009

I bank with Wells Fargo and they recently decided that it was necessary to lower my overdraft loan amount from $5000 to $2000. They didn’t touch the $20,000 line of credit attached to the account we use for Mr. A’s business.

I’ve been using my Chase Amazon card pretty heavily and paying it down with big chunks. In fact, just a couple of weeks ago I decided to estimate how much … click here to continue reading Just What I Needed, More Credit

$20K Line of Credit, Use It or Lose It?

By Mrs. Accountability on January 21st, 2009

I need some more advice this morning, if you’ve got the time to offer your two cents.

Mr. A’s business checking account came with a $20,000 line of credit. We have only used it a couple of times, to move money over when we hadn’t been paid by a customer in a timely manner, and last month when we bought the used Chevy truck for $2000, we drew $1000 out … click here to continue reading $20K Line of Credit, Use It or Lose It?