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Study Shows 79% of Latinos Carry Credit Card Debt; 54% for White Households

admin — Mon, 26 Jul 2010 20:08:53 +0000

In a recent study by the NAACP it was shown that 79% of Latinos carry credit card debt while 54% of White households carry credit card debt. It is also the case that Latinos carry a much higher interest rate on the credit cards the possess. Since exiting the “Great Recession” Americans have seen the number of bankruptcies increase.

No matter what our background it seems to be the case that many American citizens are relying on credit cards much more. Data shows that over $90 billion has been cut from credit card debt from 2008 to 2009 but citizens are still relying on plastic when it comes to making large purchases.

When asked what Latinos are using credit cards for many report that they are buying the necessities such as food, toilet paper, paper towels and family emergencies. Spending money on a credit card for these necessities is not the issue. This issue is letting a balance build up on these credit cards and having to pay a very high interest rate on these purchases.

Author: Jeremy North

Low Credit Score Credit Cards – Interest Rates for Chase, Citi and Discover Bad Credit Charge Cards

admin — Tue, 01 Jun 2010 14:45:22 +0000

Low credit score credit cards have gained in popularity over the last several years as Americans have seen their credit scores drop throughout the great recession. Many borrowers are looking for low interest rates from Chase, Citi and Discover when it comes to a bad credit credit card.

It is very important to understand that the interest rate you are offered will be greatly dictated by your overall credit score. By having a low credit score you are going to find that the interest rates on most credit cards are slightly higher than average interest rates. With this being the case it would be wise to understand your credit report and credit score.

At the present time there is a free annual credit report available that is supported by the federal government. By accessing annualcreditreport.com you will be able to get one free credit report each year. It is important to note that a free credit score does not come with this free credit report.

Once you better understand your credit history in your credit score you will be able to determine the interest rate offer you are likely to receive. With a credit score below 680 you are going to find you receive interest rates that are quite high sometimes in excess of 20%.

Author: Alan Lake

Low Credit Score Credit Cards – Memorial Day Weekend 2010 Brings Many Sales from Retailers Nationwide

admin — Fri, 28 May 2010 14:45:37 +0000

Low credit score credit cards have gained in popularity over the last several years as Americans have seen their credit score drop. With Memorial Day weekend 2010 bringing many retail sales nationwide and will come as no surprise to see Americans taking out credit cards from these retailers.

Before deciding to take out of retail credit card it is very important to understand what interest rate you will receive on this borrowed money. It is often the case that retail credit cards have very high interest rates which in turn could cause major problems in the future.

Some retail credit cards have interest rates in excess of 30% which is quite excessive considering that interest rates are very close to an all-time low. With an interest rate this high you will find it to your interest builds very quickly if you have a balance on your retail credit card.

It may be smart to consider other ways to borrow money if you hold the balance on your loans or credit cards. By holding a high balance on a credit card with a 30% interest rate you will see a large amount of money thrown down the drain over the course of a year.

Author: Tiffany Mann

Low Credit Score Credit Cards – WalMart, Target, Sears and Macys Retail Credit Card Options

admin — Tue, 18 May 2010 14:45:38 +0000

Low credit score Credit cards have become very popular over the last several months as Americans have seen their credit score drop. Some of the retailers that often offer credit cards include Wal-Mart, Target, Sears and Macys. before taking out of retail credit card it is very wise to do your research.

Many retail credit cards have very high interest rates which in turn could cost you a significant amount of money over the long run. If you have a very low credit score and you are seeking a retail credit card and you can almost guarantee an interest rate well above 20%.

When taking out a new credit card is always smart to make certain that you understand what interest rate you will be paying. If you know that the interest rate is going to be in excess of 20% that it may be a wise decision to think twice and use cash instead of taking out a new credit card.

Many retailers suggest credit cards to help borrowers buying more merchandise from their store. Some of these retailers include Wal-Mart, Target, Sears and Macys. as stated earlier it is very important to do your research before taking out any type of credit card.

Author: Jeremy North

Low Credit Score Credit Cards – Chase, Bank of America, Citi and Wells Fargo Credit Card Offers

admin — Mon, 17 May 2010 14:45:50 +0000

Low credit score credit cards have become very popular as Americans have slowly seen their credit scores dwindling over the last few years. Some of the major credit card companies including Chase, Bank of America, Citi and Wells Fargo offer low credit score credit cards but it is important to understand that you will see an interest rate that reflects your overall credit score.

If you have a credit score that is well below 650 and you have missed bill payments in the recent past and it should come as no surprise to see an interest rate as high as 20% on a low credit score credit card. No matter how much you try to negotiate a lower interest rate you are going to find that you are deemed risky borrower.

If you have many bills piling up and you have found it very difficult to make your payments over the last few months that may not be a wise decision to seek a new credit card. Instead of searching for a Chase, Bank of America, Citi or Wells Fargo credit card it might be wise to consider a new budget.

It would also be a smart decision to check your credit score before going through the application process. If your credit score is extremely low and you know you have missed bill payments then there’s a good possibility that she will be denied a credit card in the current interest rate environment.

Author: Mike Garner

Low Credit Score Credit Cards – Chase, Citi, Bank of America and Capital One Interest Rate Offers

admin — Fri, 14 May 2010 14:24:43 +0000

Low credit score credit cards have gained in popularity over the last several years as Americans have seen their credit scores drop. At the present time some of the major credit card companies such as Chase, Citi, Bank of America and Capital One are offering interest rates for those with credit scores that are low.

It is very important to understand that an interest-rate offer for a low credit score is likely to be high. Do not be surprised to get an interest-rate offer above 20% on a low credit score credit card. Unfortunately, you are deemed as a risky borrower therefore you will get higher interest-rate offers.

Before taking out a low credit score credit card it may be wise to step back and look at your current financial picture. If you are struggling to make bill payments and you have seen your credit score drop it may not be a wise idea to take out a new line of credit in the near future.

It would be wise to create a budget and attack your credit and debt problems as soon as possible. Instead of taking out more lines of credit it would be wise to pay down the current lines of credit that you have.

Author: Alan Lake

Low Credit Score Credit Cards – Retail Credit Cards from Walmart, Target and Sears Gaining in Popularity

admin — Thu, 13 May 2010 14:45:31 +0000

A low credit score credit card is something many Americans are considering at the present time. There are retail credit cards available from WalMart, Target and Sears. It is very important to note that these credit cards are gaining in popularity but there are often high interest rates associated with retail credit cards.

While retail credit cards might give you some very good incentives such as rewards or coupons it is important to note that the overall interest rate is a very important factor. If you receive an interest rate higher than 20% the coupons and rewards will likely not save you money.

Unless you pay off your low credit score credit card each and every month it would not be wise to take out a new credit card just for the rewards or coupons. With a high interest rate you are going to find that you’re going to pay much more in interest over time than you would save by using the rewards and coupons each and every month.

You can sit down with a spreadsheet and better determine how much money you can save by taking out a new retail credit card. Once again, it would be very wise to pay off his credit card each and every month as the coupons and rewards would then save you money. Unfortunately, many people with a low credit score do not do this.

Author: Tiffany Mann

Low Credit Score Credit Cards – Debt Relief Help from High Interest Rates on Citi, Chase, and Discover Cards

admin — Mon, 10 May 2010 14:45:15 +0000

Low credit score credit cards have gotten very popular over the last several months with Americans seeing their credit scores drop. Some Americans are actually seeking debt relief help from high interest rates on Citi, Chase and Discover cards. Before making any final decision is very important to do your research.

Over the last several months the FTC has warned American consumers to do their research on debt relief programs. Unfortunately, there are some companies that are trying to make a quick dollar and they are willing to do whatever it takes to gain you as a new customer.

Before giving any money to a debt relief company or a company that claims they can remove your high interest rate debt it is very important to do your diligent research. By doing this research online you will likely figure out quickly if a specific company is reputable or not.

By accessing the FTC website you can find many strategies to help protect yourself from debt relief scams. Having financial problems with debt relief is not an easy situation; you do not want to give your money to a company that is not reputable.

Author: Alan Lake

Low Credit Score Credit Cards – Mastercard, Visa, American Express and Capital One Interest Offers

admin — Fri, 07 May 2010 15:26:56 +0000

Low credit score credit cards have gained in popularity as Americans have often seen their credit score decrease. Many Americans are searching for Mastercard, Visa, American Express and Capital One interest rate offers. It is very important to note that there are many more companies but these are some of the bigger ones.

Before making any final decision on applying for a low credit score credit card it would be wise to step back and look at your financial picture. If you are struggling to pay other bills then it may not be wise to take out another line of credit through a low credit score credit card.

If you have worked hard to increase your credit score and pay off high interest rate debts then you may find that you can get an attractive interest rate offer on a credit card. It is important to note that your credit score will greatly determine the interest rate on any amount of money you borrow.

Before making any decision it would be wise to exhaust your research on this subject. With the advancements in technology it should not be difficult to find many free resources to help you pick out the correct credit card for you.

Author: Heather Best

Low Credit Score Credit Cards – Bad Credit Card Offers from Mastercard, Visa and Discover

admin — Thu, 06 May 2010 14:45:47 +0000

Low credit score credit cards have become very popular over the last several months. There are bad credit card offers from MasterCard, Visa and Discover but you will have to do your research and understand the interest rates are likely to be very high on these low score credit cards.

With the advancements in technology it is much easier than it has ever been to find a low credit score credit card online. It is important to understand that your credit score will greatly determine the interest rate that is applied to any amount of money that you borrow.

By increasing your credit score to a respectable level above 720 you will find that the interest rates on any credit card you own or apply for will likely be lower. While MasterCard, Visa and Discover offer some bad credit credit cards there are also other companies as well.

Do not feel as if you are limited to just these three companies when it comes to taking out a new card. By doing your research online you should find many companies that will be more than willing to help you apply for a bad credit credit card today.

Author: Alan Lake