Another blog post to further along our campaign against the payday loan industry!! According to the Center for Responsible Lending, payday lenders create their own demand with loan terms that generate rapid re-borrowing.
This is termed “payday churning”, or repeat borrowing of what payday lenders market as a short-term loan of a few hundred dollars. [...]
Entries Tagged as 'interest'
Half of Repeat Payday Loans Opened Immediately or After 24 Hour Wait
July 15th, 2009 · No Comments · Consumer Debt, PayDay Loans
Tags: borrower·Center for Responsible Lending·Credit Cards·Fees·interest·paychecks·payday loan industry·PayDay Loans·Video
Things to Consider When Doing a Balance Transfer
May 13th, 2009 · No Comments · Banking, Credit Cards
More people are finding themselves neck-deep in credit card debt simply because they overused their credit privileges. If you are facing the same problem, one way of lightening your credit load is to go for a balance transfer in favor of a credit card company with lower interest rates than your current cards. In fact, [...]
Tags: Bad Deal·balance transfer·Credit Cards·debt·Fees·Good Deal·Grace Period·interest·Interest Rates·Minimum Charges
Using a Credit Card to Pay Taxes: Not a Good Idea!
February 24th, 2009 · No Comments · Consumer Debt, Consumer Info
The IRS has implemented a number a changes to it’s policies in the last several years, and believe it or not, some of them (such as free e-filing) are actually beneficial to the taxpayer! Paying your taxes with a credit card, however convenient this may appear, is most likely not a wise financial decision for [...]
Tags: Convenience·Credit card debt·Credit Cards·Income Taxes·interest·IRS·uses of credit cards
Credit Cards: How To Raise Your Credit Limit
June 13th, 2008 · 2 Comments · Credit Cards
If you are new to the credit game, the initial limits on your credit cards can be low. A credit limit means the maximum amount of money you can charge to your credit card. This includes fees, balance transfers from other cards, and cash advances, as well as the purchases you [...]
Tags: Credit Cards·Credit Limit·Fees·interest·Percent of Maximum·Raising Credit Limits
