Home / Blogs

"Stuck at Stupid"

Submitted on Tue, 2009-07-21 13:17 | by Joshua Heckathorn

A friend of mine recently sent me the following quote by Lou S. Barnes, an owner of a Colorado mortgage bank named Boulder West Financial Services.

It gave me a good chuckle, so for those of you that haven't already come across his remarks elsewhere, I thought I would share what Mr. Barnes had to say about the current home lending environment.

Pay off Student Credit Card Debt or Pad the 401K?

Submitted on Tue, 2009-07-14 17:12 | by Joshua Heckathorn

Millions of young college graduates are finding themselves trapped in the worst job market since the early 1980s. And it's been quite the wake-up call for a generation that's frankly had it pretty easy to this point.

The unemployment rate for individuals 27 and younger with at least a bachelor's degree has doubled since two years ago, and the National Association of Colleges and Employers has also estimated that corporations will hire 22% fewer graduates than last year. Good jobs are scarce, and many Gen-Y'ers are simply swallowing their pride and moving home to wait tables until the job market improves. Not a bad gig if you can negotiate free rent and food from Mom and Dad.

Credit Card Bill: Consumers with Good Credit May Bear its Burden

Submitted on Thu, 2009-07-09 17:07 | by cnet

The Credit Card Act of 2009 certainly had good intentions to protect the average consumer from unfair practices that have plagued the credit card industry for years. However, it may not be all good news - especially for credit savvy consumers who have mastered the art of the credit game and learned how to use it to their financial advantage.

Happy 4th of July!

Submitted on Fri, 2009-07-03 08:45 | by cnet

american-flag

We wish all you Creditnetters a very happy Independence Day!  Drive safely and spend wisely!

The Creditnet Team

The Return of The Annual Fee

Submitted on Fri, 2009-06-19 20:50 | by cnet

A couple of weeks ago President Barack Obama officially signed into law a bill that will change the credit card industry forever. Now, the main problem remaining for consumers is that most of the new rules don't actually take effect until February of next year.

New Rules Restrict Credit for Students

Submitted on Wed, 2009-06-10 11:39 | by Joshua Heckathorn

You can buy cigarettes, porn, lotto tickets, and even a gun when you turn 18. Of course, you can vote and join the military without parental consent as well. But according to new rules recently signed into law by President Obama, you're not responsible enough to use a credit card without getting mommy or daddy's signature first.

While the Credit Card Act of 2009 will enact some welcomed changes to protect consumers from abusive credit-card practices, I'm having a difficult time grasping how restricting credit for those under 21 will actually address the underlying issue of financial education among our youth.

New Concept in Business Spending

Submitted on Fri, 2009-06-05 11:59 | by ELISABETH CHAN

The economy, in its current state, is definitely not handing out any favors to businesses, small or large. Getting a business credit card is more difficult than ever. Not only are major credit card issuers limiting the amount of credit extended to business owners, but some issuers (like Advanta) are even closing their doors indefinitely! So how are business owners to handle their day-to-day business spending without a credit card or with a credit card with a low limit?

New Credit Card Rules Target FreeCreditReport.com

Submitted on Wed, 2009-06-03 11:24 | by Joshua Heckathorn

freecreditreport

We've all seen the "Free" credit report commercials before. Some love them, most despise them.

But whatever your opinion is of FreeCreditReport.com's advertising tactics, there's no denying how difficult it is to get the catchy jingles out of your head. It's crazy how those melodic rhymes can just find a little crevice in the mind, set up camp, and stick around for days on end.

Managing Credit Cards While Living Overseas

Submitted on Thu, 2009-05-28 16:43 | by Joshua Heckathorn

My wife and I moved from Seattle to Thailand for work late last year. Other than preparing myself for lots of spicy food, tropical weather, and a 12-hour time difference with clients on the East Coast, I also wanted to make sure I was prepared to properly handle my credit cards while living overseas. I have always traveled internationally for work, and ever since my first trip abroad I quickly realized that credit cards were my lifeline. They could mean the difference between staying at the Hyatt, or sharing a hostel room with a talkative German named Franz.

Credit Card Bill Heads to Obama's Desk

Submitted on Thu, 2009-05-21 21:53 | by Joshua Heckathorn

Consumers rejoice! Congress swiftly passed the Credit Cardholders' Bill of Rights Act yesterday, and it's already headed to Obama for his final approval.

In fact, the President is expected to sign the bill into law by early next week, even if it does include a completely unrelated provision that allows individuals to bring concealed weapons into wildlife refuges and national parks. It's funny how our government works sometimes, isn't it? Of course, it doesn't seem like even a controversial gun proposal is enough to stop such a popular piece of legislation from getting signed into law. Chances of anything thwarting the bill's success at this point are slim to none.

Pages