Yes, it is actually possible for high school students to be permitted to get student credit cards of their own. For the high school student to be legally allowed to apply for a student credit card, the student has to be able to get a formal co-signer or guarantor to back him up when taking out an application form for a student credit card (b... Read more
|
 |
||||||||
| Sign Up for a free account | |||||||||
Survey after survey suggests that the average American knows little about consumer reporting agencies other than that they essentially control consumer credit profiles - and as a result, their buying power. And that's how the credit bureaus want it, argues Dr. Randy Padawer, a clinical psychologist whose research into consumer credit has been featured in Smart Money Magazine and the bestselling FICO 850 seminar for The Motley Fool. "The three major credit bureaus truly want consumers to believe that they've each been blessed with an officially sanctioned franchise," says Padawer, who has consulted for Lexington Law, a firm that helps consumers remove errors and negative information from their credit reports. The fewer facts you know about the credit bureaus, the more difficult it will be to correct a problem when one shows up on your credit report. And the odds are that an error will appear; four out of every five credit reports contain errors, and one out of every four contains errors serious enough to cause significant problems for consumers, according to research by the National Association of State Public Interest Research Groups. Here are some common credit bureau fictions and the real facts behind the fiction: Fiction 1: There are only three "official" consumer reporting agencies. Fact: Many companies are in the business of collecting, compiling and processing credit information. Fiction 2: The three major credit bureaus are officially sanctioned by the federal government. Fact: "There are no official bureaus," Padawer says. "While most Americans perceive their credit reports to have at least the same legal standing as their driving records, the truth is that the government had no role in establishing the for-profit companies which produce them." Fiction 3: The three major consumer reporting agencies all have the same information. Fact: Different creditors often report to different credit bureaus. In fact, there is no law that requires them to report to any of the big three bureaus at all. Consumer reporting agencies do not share information either, so if you find an error on your report from all three agencies, correcting it with just one of them does not mean the error will automatically come off the other two reports. Fiction 5: Consumer reporting agencies will act promptly to help me rectify an error or remove negative information from my credit report. Fact: Federal law requires all credit bureaus to complete an investigation into a consumer complaint within 30 days of when it was first made. The bureau may decide the disputed item remains on the report as is, revise but not delete the information, delete the information, or deem the complaint frivolous. Given those four options, you have a 75 percent chance of getting an answer you won't like. Increasingly, frustrated and fed up consumers are turning to professionals like Lexington Law to help them resolve credit report issues and remove negative information from their credit reports. Anyone who has ever disputed an item on a credit report knows the process can be long, aggravating and perhaps ultimately fruitless. Involving a professional can achieve faster, better results. While each case is different and individual results may vary, on average, participating Lexington Law Concord-level clients have seen 8.7 removals from their credit reports within the first 90 days of working with the firm.
In the world of student finance, use of student credit cards are usually the first topic that both parents and students are aware of and need to understand so that the student (whether he is a high school student or a college st... If your current credit situation is not as good as it could be you need to be responsible when using credit. While irresponsible spending is not always the cause of bad credit, no matter how you ended up in the situation, the pr... So you've decided to start accepting credit cards. Congratulations! Accepting credit cards is a great way to increase your sales and to get payments much more quickly than you would have if you were sending invoices to clients. ... One of the most popular ways for people to pay you when you own a small business is with a check. It's certainly worth your while to accept checks, since they have lower fees than credit cards and can't be charged back.
But ... Many small business owners are hesitant to accept credit cards because they are afraid all of the fees and equipment costs, but fees are not the only thing to consider when you are looking for a payment processor.
First, thi... When posed with the question on which credit card rewards you should pick, there really is no standard answer. Reward credit cards offer different options that may work differently depending on the lifestyle of the card holder. ...
|
|
