Articles by John Rasor
Be Cautious With Debit Cards When on Vacation -
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John Rasor
Vacationers worried about carrying too much cash often take along a debit card, so they can access cash from their checking accounts as they need it. This can be a good move, or a poor one should the card be lost or stolen. In order...
Seniors Face Growing Credit Card Debt -
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John Rasor
The burden of excessive credit card debt is a "new neighborhood" for thousands of senior citizens across the U.S. Low to middle income citizens are affected most, but even the upper middle class is taking on new debt. Those who expected to spend their retirement...
If You Care About FICO Scores, Don't do Loan Modification -
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John Rasor
With all the talk about the "Making Home Affordable" program, and with all the layoffs and pay cuts that Americans are facing today, it's tempting to ask for a loan modification even if you are able, somehow, to meet your mortgage payment. Before you decide...
Are All Free Credit Report Offers Created Equal? -
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John Rasor
I recently searched for my free credit report on line and found that there are more than a few programs out there offering it. What i did not know were the differences between them. We've all seen the attention grabbing commercials with the guy in...
Use Cash-Back Cards Wisely to Protect Credit Scores -
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John Rasor
Unwise use of cash-back credit cards can destroy your credit scores, so be careful. The temptation is there - when you get a new card that offers to give you twice the reward if you hurry up and use that card in the first couple...
Consumer-friendly Credit Card Reforms -
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John Rasor
Credit card companies have come under fire for unfair practices that almost force unwary consumers into default or bankruptcy. The Feds have taken notice, and new rules are in the offing. The bad news is that the new rules are slated to take effect in...
The Job Search is Much Tougher for Consumers with Poor Credit Scores -
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John Rasor
Being jobless for many months can destroy your credit scores. Even if you manage to juggle accounts and keep paying the bills on time, using the credit cards to make up the shortfall between unemployment benefits and monthly expenses is damaging. Worse, as too many...
How Credit Card Balances Affect Credit Scores -
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John Rasor
Getting confused about how to use your credit cards for the best effect on your credit scores? You know you need credit card accounts - you've been cautioned not to close any accounts, especially your oldest accounts. You've heard that you shouldn't carry a balance...
Identity Theft Could Steal Your Credit Rating -
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John Rasor
If you aren't checking your credit report regularly, "you" could be wracking up bills and late payments that will plunge your credit scores to the bottom of the barrel. Identity thieves have two primary methods of using your identity that will quickly destroy your financial...
Do You Qualify For Home Loan Modification? -
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John Rasor
Depending upon your lender and the programs they're involved in, a drop in your income or a rise in your house payment might qualify you for a mortgage loan modification. If you're struggling to meet your mortgage payment every month, consider calling your lender to...
Using Dealer Financing to Buy a Used Car? Be Careful! -
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John Rasor
There's a reason why the phrase "used car salesman" conjures up certain images - and that reason doesn't completely revolve around engines and transmissions. Car salesmen are masters at getting people financed to purchase - one way or another. The trouble is, the way might...
No Quick Fixes for Improving Credit Scores -
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John Rasor
There are no quick fixes for improving your credit scores. However, you can increase your scores over time by demonstrating that you consistently manage your finances responsibly. Take a peek at these ten tips to live by if you want a good credit rating: 1....
Do Loan Servicers Really Want to Help Modify Your Mortgage Loan? -
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John Rasor
They say they do. The government has provided $75 billion in taxpayer money and told them to. But many of them are stalling because helping troubled homeowners is a financial conflict of interest for them. When the "Making Home Affordable" program was announced, financially strapped...
More Myths About Credit Scores -
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John Rasor
The financial crisis has underscored the need to maintain a good credit score and also know what factors have the most effect on the score. Since there is a variety of information about credit scoring, you have to know what information you're getting is actually...
Mortgage Brokers May Soon Face Extinction -
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John Rasor
Everyone knows that the mortgage crisis resulted, at least partially, from the massive number of sub-prime loans written with ARM's that reset - leaving the borrowers unable to meet the mortgage payments. We also know that those programs were offered by the major banks -...
Does Your Credit Card Carry a Variable Rate? -
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John Rasor
With all the talk lately about credit card issuers raising rates, and those card issuers doing all they can to maximize their profits before the new rules take effect, it should come as no surprise that many are moving to variable rates. Bank of America,...
Should You Request a Lower Credit Card Interest Rate? -
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John Rasor
Not unless you can't meet the minimum payment with your current interest rate. Prior to the credit crisis, consumers were advised to request lower rates as a reward for their good credit history, but with the turmoil going on in the credit card industry right...
Do You Need a Free Credit Report? -
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John Rasor
You're not thinking of making any major purchases in the near future, so do you really need to get your free credit report? Can't you just wait until you're ready to buy a house or a car? Yes you do need that free credit report,...
Credit Card Issuers Have Their Own Definition of a Dead Beat and They Might Mean You -
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John Rasor
Have you never paid your credit card bill late? Have you never gone over your credit limit? Do you pay the entire statement balance each month? Do you use your rewards card - and collect the rewards? Are your credit rating and your FICO scores...
Are You Falling Behind on Mortgage Payments? -
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John Rasor
If so, you're in good company. According to the Mortgage Bankers Association, over 11% of all mortgages right now are either delinquent or are in foreclosure. 3.3% have already been repossessed. Thousands more are still scraping by to make the payments, and wondering why. They're...
