Credit Scores 101

Many people starting a credit repair program are under the misconception that the credit bureaus are in some way connected to the government. It is easy to understand this perception. But, as influential as they are, the credit bureaus have no government blessing, charter, or otherwise. They are big business. There are three credit bureaus [...]

Scam Alert: I’m Calling from the FTC

The skeptic in me is wary of any calls from the government, especially if “they’re here to help.”   However, this particular scam preys on those just hoping to catch a break in this economy. The Federal Trade Commission (FTC) issued an alert about telephone scam artists posing as FTC employees and telling you you’ve won [...]

Michelle Singletary: Personal Finance Cliff Notes

The Color of Money columnist Michelle Singletary has a unique suggestion for her Color of Money book club readers: It used to be that our personal finances were so uncomplicated — a simple bank account, 30-year mortgage, company pension. That was then. This is now: Our personal finances come with frustration, complication and financial products [...]

Navigating Bank and Credit Card Fees

The best news we’ve heard all day! Congress is seeking faster implementation of credit card rules. The Wall Street Journal reports that House Financial Services Chairman Barney Frank (D-NY) is seeking speed up the February 2010 implementation date: The move would stop credit-card issuers from raising rates and ban other controversial practices before the legislation goes [...]

College and Credit Cards Don’t Mix

And this is assuming you can even get one these days. But arriving freshman typically have no credit history which means good credit history/our next victim by the credit card industry. The Insurance Information Institute recently noted: A recent study by Sallie Mae, a leading provider of student loans, shows that students are using their [...]

Guest Post: Why Women Need To Save More Than Men

Trisha Wagner is a freelance writer for DepositAccounts.com, where you can compare rates of checking accounts from dozens of banks in one place. Trisha writes regularly on the topics of personal finance and savings accounts. Regardless of our quest for equality in the world, the fact remains that life is very different for people of [...]

Credit Card Rules: What’s Different?

Today, a number of consumer protection provisions included in the credit card reform law take effect: What’s New? Beginning today, Credit card companies will be required to give you 45 days advance notice before making any significant changes to your contract. Previously, credit card companies were required to give 30 days notice before changing a [...]

Tips on Raising Your Credit Score

Money Girl has some great information on how to obtain and understand your credit score, and provides tips on how to raise your credit score. Money Girl’s 5 tips begin with: Pay all your bills on time. Your payment history influences your credit score the most. Never let an overdue account get turned over to [...]

It’s Not How Much You Make, But How Much You Keep

If the African American community is to prosper over the long term absent government involvement, a prerequisite must focus on wealth creation.  Not just making money, but keeping it.  Yes, the black middle class makes made a lot of money.  But how many of us still have it?  And how many have a plan to [...]

Get Your Money Right

If most of us are honest, we don’t know much about finance or financial planning.  For some, filling out a checkbook register requires more concentration than installing software.  But this economy warrants knowing where every single penny made or spent is accounted for.  It certainly isn’t easy.  K-12 schools have booted civics education, home economics, [...]

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