Credit Card Application Services Hollister CA
How often can you apply for credit cards? Does it look bad on your credit report if you apply for many credit cards? My husband and I have 5 credit cards. Our credit rating is good, so most of our interest on our cards are between 5 and 7%. We owe $19,000 and I am currently emptying one of our cards so that we can transfer the entire $19,000 using their 2.99% life-of-the balance rate.
Thanks to your many tips in your newsletter!
Thanks for writing and thanks for reading DebtSmart!
You can apply for credit cards as much as you like! It's true that there can be a short-term negative impact on your score but it's quite negligible.
I have 80+ credit cards and my FICO score is 804 and I apply for new credit at least a few times each year. If having too many credit cards, and applying for new credit, can hurt your score, then I don't see any proof of that in my records.
Getting new lines of credit may actually help your credit score.
How you ask?
By increasing your credit lines, you decrease the ratio of debt to available credit. Imagine that you're maxed out at $5,000 in debt on one credit card. You have 100% of your credit line used. If you get another, new, $5,000 line of credit, you now have $10,000 of total credit and you're only using 50%. So, in this case, your debt ratio was cut in half!
Keep up the great work transferring your balances to lower rates. That's the way to save mon...
|Credit and Your Consumer Rights||
Credit and Your Consumer Rights
A good credit rating is very important. Businesses inspect your credit history when they evaluate your applications for credit, insurance, employment, and even leases. They can use it when they choose to give or deny you credit or insurance, provided you receive fair and equal treatment. Sometimes, things happen that can cause credit problems: a temporary loss of income, an illness, even a computer error. Solving credit problems may take time and patience, but it doesn’t have to be an ordeal.
The Federal Trade Commission (FTC) enforces the credit laws that protect your right to get, use and maintain credit. These laws do not guarantee that everyone will receive credit. Instead, the credit laws protect your rights by requiring businesses to give all consumers a fair and equal opportunity to get credit and to resolve disputes over credit errors. This brochure explains your rights under these laws and offers practical tips to help you solve credit problems.
Your Credit Report
Your credit report contains information about where you live, how you pay your bills, and whether you’ve been sued, arrested, or filed for bankruptcy. Credit reporting companies sell the information in your report to businesses that use it to evaluate your applications for credit, insurance, employment, or renting a home.
The federal Fair Credit Reporting Act (FCRA) promotes the accuracy and privacy of information in the files of the nation’s credit reporting companies. Under the Fair Credit Reporting Act:
Your Credit Application
When creditors evaluate a credit application, they cannot engage in discriminatory practices.
The Equal Credit Opportunity Act (ECOA) prohibits credit discrimination on the basis of sex, race, marital status, religion, national origin, age, or receipt of public assistance. Creditors may ask for this information (except religion) in certain situations, but they may not use it to discriminate against you when deciding whether to grant you credit.
The ECOA protects consumers who deal with companies that regularly extend credit, including banks, small loan and finance companies, retail and department stores, credit card companies, and credit unions. Everyone who participates in the decision to grant credit, including real estate brokers who arrange financing, must follow this law. Businesses applying for credit also are protected by this law. Under the Equal Credit Opportunity Act:
For details, see Equal Credit Opportunity at ftc.gov/credit .
Your Credit Billing and Electronic Fund Transfer Statements
It is important to check credit billing and electronic fund transfer account statements regularly because these documents may contain mistakes that could damage your credit status or reflect improper charges or transfers. If you find an error or discrepancy, notify the company and dispute the error immediately. The Fair Credit Billing Act (FCBA) and Electronic Fund Transfer Act (EFTA) establish procedures for resolving mistakes on credit billing and electronic fund transfer account statements, including:
The FCBA generally applies only to “open end” credit accounts – credit cards and revolving charge accounts, like department store accounts. It does not apply to loans or credit sales that are paid according to a fixed schedule until the entire amount is paid back, like an automobile loan. The EFTA applies to electronic fund transfers, like those involving automatic teller machines (ATMs), point-of-sale debit transactions, and other electronic banking transactions.
For details, see Fair Credit Billing and A Consumer’s Guide to E-Payments at ftc.gov/credit.
Your Debts and Debt Collectors
You are responsible for your debts. If you fall behind in paying your creditors, or if an error is made on your account, you may be contacted by a “debt collector.” A debt collector is any person, other than the creditor, who regularly collects debts owed to others, including lawyers who collect debts on a regular basis. You have the right to be treated fairly by debt collectors.
The Fair Debt Collection Practices Act (FDCPA) applies to personal, family, and household debts. This includes money you owe for the purchase of a car, for medical care, or for charge accounts. The FDCPA prohibits debt collectors from engaging in unfair, deceptive, or abusive practices while collecting these debts. Under the Fair Debt Collection Practices Act:
For details, see Fair Debt Collection at ftc.gov/credit.
Solving Your Credit Problems
Your credit report can influence your purchasing power, as well as your opportunity to get a job, rent or buy an apartment or a house, and buy insurance. When negative information in your report is accurate, only the passage of time can assure its removal. A credit reporting company can report most accurate negative information for seven years and bankruptcy information for 10 years. Information about an unpaid judgment against you can be reported for seven years or until the statute of limitations runs out, whichever is longer. There is no time limit on reporting information about criminal convictions; information reported in response to your application for a job that pays more than $75,000 a year; and information reported because you’ve applied for more than $150,000 worth of credit or life insurance. There is a standard method for calculating the seven-year reporting period. Generally, the period runs from the date that the event took place.
If you are having problems paying your bills, contact your creditors immediately. Try to work out a modified payment plan with them that reduces your payments to a more manageable level. Don’t wait until your account has been turned over to a debt collector.
Here are some additional tips for solving credit problems:
If you’re not disciplined enough to create a workable budget and stick to it, work out a repayment plan with your creditors, or keep track of mounting bills, consider contacting a credit counseling organization. Many credit counseling organizations are nonprofit and work with you to solve your financial problems. But not all are reputable. For example, just because an organization says it’s “nonprofit,” there’s no guarantee that its services are free, affordable, or even legitimate. In fact, some credit counseling organizations charge high fees, or hide their fees by pressuring consumers to make “voluntary” contributions that only cause more debt.
Most credit counselors offer services through local offices, the Internet, or on the telephone. If possible, find an organization that offers in-person counseling. Many universities, military bases, credit unions, housing authorities, and branches of the U.S. Cooperative Extension Service operate nonprofit credit counseling programs. Your financial institution, local consumer protection agency, and friends and family also may be good sources of information and referrals.
Reputable credit counseling organizations can advise you on managing your money and debts, help you develop a budget, and offer free educational materials and workshops. Their counselors are certified and trained in the areas of consumer credit, money and debt management, and budgeting. Counselors discuss your entire financial situation with you, and help you develop a personalized plan to solve your money problems. An initial counseling session typically lasts an hour, with an offer of follow-up sessions.
For more information, see Knee Deep in Debt and Fiscal Fitness: Choosing a Credit Counselor at ftc.gov/credit .
The FTC works to prevent fraudulent, deceptive and unfair business practices in the marketplace and to provide information to help consumers spot, stop and avoid them. To file a complaint or get free information on consumer issues , visit ftc.gov or call toll-free, 1-877-FTC-HELP (1-877-382-4357); TTY: 1-866-653-4261. Watch a new video, How to File a Complaint , at ftc.gov/video to learn more. The FTC enters consumer complaints into the Consumer Sentinel Network , a secure online database and investigative tool used by hundreds of civil and criminal law enforcement agencies in the U.S. and abroad.
Dates: 5/16/2013 - 5/16/2013
Location: Stanford University
Abstract: Concern about rising economic inequality arises because of its implications for today’s society and of what it implies about where we are headed in the future. Are inequalities within countries going to continue to widen? This lecture asks what can be learned from historical experience and from economic models of the generation of inequality. It explores the long-run development of inequality of income and wealth in the US and in Europe. When have we succeeded in reducing inequality? It argues that we need to go beyond first year economics in order to understand the forces influencing wages and capital incomes, and that the subject of inequality should be re-integrated into the mainstream of economics.
Sir Tony Atkinson, currently at Nuffield College, Oxford, works predominantly on the economics of income distribution, poverty and security, micro-economics, and public economics. His research has led to an inequality measure named after him -- the Atkinson index. Prior to Nuffield, Atkinson held positions at the University of Cambridge, University College London, the London School of Economics, and the University of Essex. He was elected a Fellow of the British Academy, a Fellow of the Econometric Society, Honorary Member of the American Economic Association, and Foreign Honorary Member of the American Academy of Arts and Sciences.
Sponsor: Center for Ethics in Society
Audience: General Public
SCOPE Brown Bag Seminar: Re-Opening a Silenced Dialogue: Placing Equity, Quality, and Educational Opportunity at the Center of Teacher Education, Presented by Arnetha Ball, Professor of Education at S
Dates: 5/20/2013 - 5/20/2013
Location: Stanford University
Location: CERAS 101 Learning Hall (Formerly CERAS 100B)
Before entering the professorate, Dr. Arnetha Ball was a speech/language pathologist, taught in pre-school, elementary and secondary classrooms for over 25 years, and was the founder and executive director of an early education center for students of diverse backgrounds. Currently, she conducts an interdisciplinary program of research that aims to improve education for urban populations in three intersecting contexts: U.S. schools in which predominantly poor African American, Latino, and Pacific Islander students are underachieving; community-based organizations that are part of an alternative education system offering "second chance" or "last chance" opportunities for individuals in search of personal, academic, and economic success; and teacher education programs in the U.S. and South Africa.
Dr. Ball specializes in the preparation of teachers to teach in urban schools and has served as an academic specialist for the United States Information Services Program in South Africa. She has co-taught courses on multiliteracies and English methodologies in the teacher education program at Johannesburg College of Education, and has taught in the Further Diploma in Education Program at the University of Cape Town. Dr Ball's research integrates sociocultural, sociolinguistic, and ethnographic approaches to investigate the processes of teacher change, teacher generativity, and teacher development, as well as the language and literacy practices of students in multicultural and multilingual settings. She works with Duquesne University as their Sizemore Consulting Professor on issues of Urban Education and currently serves as President of the American Educational Research Association.
Sponsor: Stanford Center for Opportunity Policy in Education
Audience: General Public
Central Coast Writers Monthly Meeting
Dates: 7/16/2013 - 7/16/2013
Location: Crazy Horse Restaurant at Bay Park Hotel
Monthly speaker geared to help amateur and professional writers with writing, editing, marketing, Internet networking, etc. Free and open to the public. Visit centralcoastwriters.org to see the monthly speaker. Dinner $15 at 5:30, speaker at 6:30.
IT Open Forum
Dates: 9/19/2013 - 9/19/2013
Location: San Jose State Univ
San Jose, CA
1 Washington Square
San Jose, CA
SJSU Main Campus - Engineering Building
Name: Shawn Lahr
The IT Open Forum is a series of communication sessions with the San Jos State University campus on information technology topics. These sessions will be an opportunity to learn more about IT activities and provide input on these activities.