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Student Credit Cards: Do You Really Need a Co-Signer?

March 12th, 2012 by Joshua Heckathorn

Amex Blue Card

The Credit Card Act of 2009 bans credit cards for young adults under the age of 21 unless they can show proof of sufficient income or secure a co-signer. Most students are aware of this change now that it's been a few years since the act was signed into law, but what's confusing is there are still plenty of student credit cards on the market that claim "no co-signer is required."

I was even confused the first time I saw this offered after the new rules took effect, so what's the deal? Are co-signatures really required or not for student credit cards?

Widespread adoption of mobile payments could be right around the corner

by on March 11, 2012

Major corporations are now making significant efforts to simultaneously develop, promote and incentivize consumer adoption of mobile payment systems and digital wallet programs and that will likely pay off within the next few years, according to a report from Computer World. Millions of consumers across the country already have smartphones, and research indicates many already use these devices to guide their in-store purchasing decisions, and thus, experts believe digital wallet adoption cannot be far behind.

Get Free FICO Scores with Walmart Credit Card

March 10th, 2012 by Elisabeth Chan

We're always on the hunt for new ways to get your hands on free FICO Scores. Not the "FAKO" scores that credit bureaus and free credit report sites will try to pawn off on you, but real FICO scores. You know, the ones lenders actually use to assess your risk as a borrower.

Judge could create credit card fee limit in 2012

by on March 7, 2012

The case, a private suit between about 5 million businesses and Visa, MasterCard and 13 large banks, is related to the amount that companies pay for accepting a credit card purchase, and is slated to begin in September 2012, according to a report from CNBC. Analysts say that whatever happens, the credit card landscape could change considerably.

Crowd-sourced credit card with lower rates on the way

by on March 7, 2012

A new type of account from MasterCard and Barclaycard US may help consumers looking for high-quality credit card offerings as long as they're willing to join an online community, according to a report from ZD Net. The new account, known as Barclaycard Ring, will essentially allow consumers to join a social network that allows the community to have a voice in negotiating all kinds of terms related to the associated credit card. The card is expected to be launched more broadly in the spring.

Card issuers' websites becoming more consumer friendly

by on March 7, 2012

Information from the research firm Keynote recently revealed that a number of the nation's top eight lenders - US Bank, Discover, Citi and PNC Card - have websites that are easy for consumers to understand and use when seeking information about credit card accounts, according to a report from Bank Technology News. The study examined user experiences for the websites of the nation's largest lenders, which also include American Express, Bank of America, Capital One and Chase.

USAA named top-rated credit card issuer for customer experience

by on March 7, 2012

USAA was tabbed as having the best customer experience of all 10 of the largest card issuers in the U.S., according to the 2012 Temkin Experience Ratings issued by the Temkin Group. The study looked at 206 major companies in 18 industries, including lenders like American Express, Bank of America, Capital One, Chase, Citigroup, Discover, HSBC, U.S. Bank and Wells Fargo.

Ask Creditnet: What's the Difference Between DOFD and DOLA?

March 7th, 2012 by Joshua Heckathorn

debt calendar

Dear Creditnet: I'm trying to clean up my credit reports so I can get approved for a mortgage this year. While I've already removed a lot of errors, I still have a few old credit card debts I think are ready to drop off at any time.

What confuses me is how to determine exactly when these debts will fall off my credit reports. Should I be trying to determine the "date of first delinquency" or the "date of last activity", and can you explain the difference between the two terms?

CFPB reaching out for advisor nominations

by on March 6, 2012

The federal Consumer Financial Protection Bureau is now seeking nominations for advisors on its government-mandated 16-person advisory board, which will advise and consult with top officials from the agency on a number of matters, according to a report from the Washington Post. The board will have at least 16 members, six of which must be nominated by the various Federal Reserve banks around the country. However, the final members of the board will be chosen by CFPB top executive Richard Cordray.

Don't Blow Your Tax Refund

It's easy to think of tax refunds as a free windfall of money that you can blow however you please. In truth, a tax refund isn't free money at all.

It's actually money that should've been in your bank account all along, but you chose to lend it to the government for free instead. That means that while Uncle Same held onto your cash for the past year, you missed out on the opportunity to put it to work for you by paying down debt, earning interest in savings accounts, or investing for retirement.

Updated by Joshua Heckathorn on Mon, 2012-03-05 16:00

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