Originally posted on CNN

 

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The deadline for the completion of qualifying First-Time Homebuyer Credit purchases has been extended. Taxpayers who entered into a binding contract before the end of April now have until September 30, 2010 to close on the home. The Homebuyer Assistance and Improvement Act of 2010, enacted on July 2, 2010, extended the closing deadline from  Read More →

Another wonderful aspect of the “Reform” financial legislation passed by Congress is coming your way: Credit card companies permitting merchants to impose minimum charges on their credit cards. This does not impact debit cards. Credit card company rules prohibited merchants from requiring minimum purchases to use credit cards, even though... 

LowCards.com Weekly Update A summary of this week’s top credit card stories.  DISCOVER CEO: NEW RULES DON’T HELP THOSE WITH BEST CREDIT Discover CEO David Nelms says the CARD Act will benefit some credit cardholders and hurt others. Those with good credit will lose the “ultra-low rates of the past 10 years.” Credit card companies... 

People who are denied credit or a job because of their credit history may soon be able to get their credit score free of charge, thanks to an amendment passed by the Senate Monday evening.  Read More →

According to a recent FICO study, over one-fourth (25.5%) of Americans have poor credit. Nearly 43.4 million people now have a credit score of 599 or below. When you go to the grocery store or a ballgame, look around–one in four people around you have serious financial problems. Expect that number to grow as households continue to struggle... 

Consumers will soon receive their first credit card bill since last week’s implementation of the CARD Act and their statement will look very different. “The new debt information on your credit card statement is one of the best provisions of the CARD Act and it will benefit every cardholder,” says Bill Hardekopf, CEO of LowCards.com... 

Those out of work will have a tougher job landing new employment if they failed to pay bills on time and wrecked their credit. Unfortunately, not only auto insurers but employers are looking at credit histories and credit ratings to determine not only whether you are a safe driver but whether you can be trusted with  Read More →

Weekly Credit Card Update A summary of this week’s top credit card stories. Contact: Bill Hardekopf, LowCards.com, 800-388-1910 CREDIT CARD CHANGES PROPOSED BY THE FEDERAL RESERVE This week, the Federal Reserve proposed a rule amending Regulation Z (Truth in Lending) to protect credit card users from unreasonable late payment and other penalty... 

Thanks to myfico.com for a listing of secret “backdoor” telephone numbers to help settle complaints and credit issues. The telephone numbers – continually being gathered by the site – get you past the person who answers (when they actually answer) the phones at banks, businesses and credit card companies. The numbers get you... 

Credit card issuers are aggressively advertising credit cards once again. Direct mail credit card offers were up over 80% during the second quarter of 2010 versus year ago levels. Promotional offers may sound good in the headlines, but it is important to shop around because what you see may not be exactly what you need  Read More →

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