Category Archives: Credit Cards

Banks Have No Idea Who’s Creditworthy Anymore – The Wall Street Journal

An unknown credit card which could belong to any bank or person

Prepandemic, deferrals weren’t much of a problem for banks. They were used rarely for most types of consumer debt and were usually confined to areas hit by natural disaster. Now, a staggering number of consumers around the U.S. are in deferral or other repayment programs, leading banks to question whether the credit scores and reports […]

An Alarming Number of People are Complaining about their Citi Credit Card Accounts

NY Credit Report Errors Attorney - Credit Cards

Problems with Citi or Synchrony bank credit cards?  If inaccurate credit reporting is involved, our firm may be able to help. An alarming number of credit card borrowers hurt by the coronavirus recession are complaining that Citibank is treating them unfairly. Citi (C) accounted for nearly 37% of pandemic-related complaints to regulators about credit […]

What happens when you miss a credit card payment?

Past Due Notice

Wonder how a late payment affects consumers differently?  See a sample comparison by FICO. As you can see, the higher your credit score, the greater negative effect a 30- or 90-day missed credit card payment has on your account. That’s because someone with a lower credit score already has their past behavior reflected in […]

Here is the 1 credit card you should almost always avoid

Store Credit Cards

When you shop at retailers in-store or online, chances are you’ve been asked at checkout if you want to apply for a store card. They frequently come with tempting offers — sign up and get a huge discount on your purchase — but there are several drawbacks to consider before you apply.

“To build credit, what you want to do is have a demonstrated track record of using credit responsibly, and over time different forms of credit,” McBride says. “With regard to revolving lines like credit cards, you want to demonstrate the ability to put expenses on the card and then to pay that off.” To […]