Personal Finance: All About Credit Reports and Credit Scores by @PhroogalJason Vitug
All about credit reports and credit scores. How to establish, maintain and repair credit reports and credit scores. Learn the ins and outs of credit reports with tips and tools to maintain a healthy credit report and increase credit scores.
Personal Finance: All About Credit Reports and Credit Scores by @PhroogalJason Vitug
All about credit reports and credit scores. How to establish, maintain and repair credit reports and credit scores. Learn the ins and outs of credit reports with tips and tools to maintain a healthy credit report and increase credit scores.
On January 24, members of Freestar Financial attended a Mortgage Mixer Event. The Vice President of Lending, Jennifer Martines and Realtor, Peter Toering presented the importance of having a good credit score and the documentation you will need in order to start a mortgage application.
Infiniti Financial Services offers simple, flexible programs to help you acquire a new or qualified pre-owned Infiniti. Whether you're financing or leasing, IFS has attractive rates, easy terms, and the expertise to ensure a variety of financial options with services individually tailored for your convenience – a trademark of the Infiniti Total Ownership Experience.
Learn about the financing process and evaluate your financial situation using our comprehensive guide.
A groups of presentations regarding federal loan debt, repayment, and what to do if you cannot make payments. Also includes specific information for programs at UNTHSC and their cost of attendance, disbursement and budgeting.
Need to borrow a loan to pay for college? Follow these tips to learn loan terminology, how to select the best loan, and what you should do to borrow wisely.
There was a man who made a living selling balloons at a fair. He had all colors of
balloons, including red, yellow, blue, and green. Whenever business was slow, he would
release a helium-filled balloon into the air and when the children saw it go up, they all
wanted to buy one. They would come up to him, buy a balloon, and his sales would go up
again. He continued this process all day. One day, he felt someone tugging at his jacket.
He turned around and saw a little boy who asked, "If you release a black balloon, would
that also fly?" Moved by the boy's concern, the man replied with empathy, "Son, it is not
the color of the balloon, it is what is inside that makes it go up."
The same thing applies to our lives. It is what is inside that counts. The thing inside of us
that makes us go up is our attitude.
Have you ever wondered why some individuals, organizations, or countries are more
successful than others?
It is not a secret. These people simply think and act more effectively. They have learned
how to do so by investing in the most valuable asset--people. I believe that the success
of an individual, organization or country, depends on the quality of their people.
I have spoken to executives in major corporations all over the world and asked one
question: "If you had a magic wand and there was one thing you would want changed,
that would give you a cutting edge in the marketplace resulting in increased productivity
and profits, what would that be?" The answer was unanimous. They all said that if people
had better attitudes, they'd be better team players, and it'd cut down waste, improve
loyalty and, in general, make their company a great place to work.
William James of Harvard University said, "The greatest discovery of my generation is
that human beings can alter their lives by altering their attitudes of mind."
Experience has shown that human resources is the most valuable asset of any business.
It is more valuable than capital or equipment. Unfortunately, it is also the most wasted.
People can be your biggest asset or your biggest liability.
TQP--TOTAL QUALITY PEOPLE
Having been exposed to a number of training programs, such as customer service,
selling skills, and strategic planning, I have come to the conclusion that all these are
great programs with one major challenge: None of them works unless they have the right
foundation, and the right foundation is TQP. What is TQP? TQP is Total Quality People--
people with character, integrity, good values, and a positive attitude.
Don't get me wrong. You do need all the other programs, but they will only work when
you have the right foundation, and the foundation is TQP. For example, some customer
service programs teach participants to say "please," and "thank-you," give smiles and
handshakes. But how long can a person keep on a fake smile if he does not have the
desire to serve? Besides, people can see through him. And if the smile is not sincere, it is
irritating. My point is, there has to be sub
Understand the true cost of payday loans, know your rights when dealing with payday loan lenders and learn tips on how to get off the payday loan cycle.
On January 24, members of Freestar Financial attended a Mortgage Mixer Event. The Vice President of Lending, Jennifer Martines and Realtor, Peter Toering presented the importance of having a good credit score and the documentation you will need in order to start a mortgage application.
Infiniti Financial Services offers simple, flexible programs to help you acquire a new or qualified pre-owned Infiniti. Whether you're financing or leasing, IFS has attractive rates, easy terms, and the expertise to ensure a variety of financial options with services individually tailored for your convenience – a trademark of the Infiniti Total Ownership Experience.
Learn about the financing process and evaluate your financial situation using our comprehensive guide.
A groups of presentations regarding federal loan debt, repayment, and what to do if you cannot make payments. Also includes specific information for programs at UNTHSC and their cost of attendance, disbursement and budgeting.
Need to borrow a loan to pay for college? Follow these tips to learn loan terminology, how to select the best loan, and what you should do to borrow wisely.
There was a man who made a living selling balloons at a fair. He had all colors of
balloons, including red, yellow, blue, and green. Whenever business was slow, he would
release a helium-filled balloon into the air and when the children saw it go up, they all
wanted to buy one. They would come up to him, buy a balloon, and his sales would go up
again. He continued this process all day. One day, he felt someone tugging at his jacket.
He turned around and saw a little boy who asked, "If you release a black balloon, would
that also fly?" Moved by the boy's concern, the man replied with empathy, "Son, it is not
the color of the balloon, it is what is inside that makes it go up."
The same thing applies to our lives. It is what is inside that counts. The thing inside of us
that makes us go up is our attitude.
Have you ever wondered why some individuals, organizations, or countries are more
successful than others?
It is not a secret. These people simply think and act more effectively. They have learned
how to do so by investing in the most valuable asset--people. I believe that the success
of an individual, organization or country, depends on the quality of their people.
I have spoken to executives in major corporations all over the world and asked one
question: "If you had a magic wand and there was one thing you would want changed,
that would give you a cutting edge in the marketplace resulting in increased productivity
and profits, what would that be?" The answer was unanimous. They all said that if people
had better attitudes, they'd be better team players, and it'd cut down waste, improve
loyalty and, in general, make their company a great place to work.
William James of Harvard University said, "The greatest discovery of my generation is
that human beings can alter their lives by altering their attitudes of mind."
Experience has shown that human resources is the most valuable asset of any business.
It is more valuable than capital or equipment. Unfortunately, it is also the most wasted.
People can be your biggest asset or your biggest liability.
TQP--TOTAL QUALITY PEOPLE
Having been exposed to a number of training programs, such as customer service,
selling skills, and strategic planning, I have come to the conclusion that all these are
great programs with one major challenge: None of them works unless they have the right
foundation, and the right foundation is TQP. What is TQP? TQP is Total Quality People--
people with character, integrity, good values, and a positive attitude.
Don't get me wrong. You do need all the other programs, but they will only work when
you have the right foundation, and the foundation is TQP. For example, some customer
service programs teach participants to say "please," and "thank-you," give smiles and
handshakes. But how long can a person keep on a fake smile if he does not have the
desire to serve? Besides, people can see through him. And if the smile is not sincere, it is
irritating. My point is, there has to be sub
Understand the true cost of payday loans, know your rights when dealing with payday loan lenders and learn tips on how to get off the payday loan cycle.
Honest Reviews of Tim Han LMA Course Program.pptxtimhan337
Personal development courses are widely available today, with each one promising life-changing outcomes. Tim Han’s Life Mastery Achievers (LMA) Course has drawn a lot of interest. In addition to offering my frank assessment of Success Insider’s LMA Course, this piece examines the course’s effects via a variety of Tim Han LMA course reviews and Success Insider comments.
Unit 8 - Information and Communication Technology (Paper I).pdfThiyagu K
This slides describes the basic concepts of ICT, basics of Email, Emerging Technology and Digital Initiatives in Education. This presentations aligns with the UGC Paper I syllabus.
How to Make a Field invisible in Odoo 17Celine George
It is possible to hide or invisible some fields in odoo. Commonly using “invisible” attribute in the field definition to invisible the fields. This slide will show how to make a field invisible in odoo 17.
Normal Labour/ Stages of Labour/ Mechanism of LabourWasim Ak
Normal labor is also termed spontaneous labor, defined as the natural physiological process through which the fetus, placenta, and membranes are expelled from the uterus through the birth canal at term (37 to 42 weeks
Operation “Blue Star” is the only event in the history of Independent India where the state went into war with its own people. Even after about 40 years it is not clear if it was culmination of states anger over people of the region, a political game of power or start of dictatorial chapter in the democratic setup.
The people of Punjab felt alienated from main stream due to denial of their just demands during a long democratic struggle since independence. As it happen all over the word, it led to militant struggle with great loss of lives of military, police and civilian personnel. Killing of Indira Gandhi and massacre of innocent Sikhs in Delhi and other India cities was also associated with this movement.
Welcome to TechSoup New Member Orientation and Q&A (May 2024).pdfTechSoup
In this webinar you will learn how your organization can access TechSoup's wide variety of product discount and donation programs. From hardware to software, we'll give you a tour of the tools available to help your nonprofit with productivity, collaboration, financial management, donor tracking, security, and more.
2. An educational partnership between Consumer Action and American Express
Purpose of Training
• Most people have credit cards — but do
they know the terms of the agreement
that they have with their credit card
issuers?
• This training will help you understand how
credit cards work and that how you use
your cards can affect your credit history.
3. An educational partnership between Consumer Action and American Express
Objectives
• Understand the types of cards available
• Sort through card offers
• Compare terms and conditions
• Avoid penalty rates and fees
• Find more information and assistance
4. An educational partnership between Consumer Action and American Express
Credit cards
• The average household receives five
credit card offers per month in the mail,
and more by telephone and the Internet
• This array of choices makes it difficult to:
• Sort through offers
• Understand terms & conditions
• Select the right card
5. An educational partnership between Consumer Action and American Express
Wise credit
• Not managing your credit wisely can lead
to:
• Increased annual percentage rates (APRs)
• Unnecessary fees
• A decline in your credit
• Denials of future credit
6. An educational partnership between Consumer Action and American Express
Topics covered
• Types of credit cards
• Card offers
• Card terms and conditions
• Credit card billing statements
• Using credit cards
• Card fees
• Optional services and card benefits
7. An educational partnership between Consumer Action and American Express
What are credit
cards good for?
• Emergencies
• Big ticket items
• Establishing credit
• Safer than cash
• More purchasing power
• Protection from fraud on the Internet
9. An educational partnership between Consumer Action and American Express
Credit cards
• Revolving Credit
• Credit line can be used up to the credit limit
• Pay charges in full each month, pay just the
minimum, or make a partial payment greater than the
minimum due
• Available credit goes up and down as purchases and
payments are made
10. An educational partnership between Consumer Action and American Express
Charge cards
• Pay all charges in full every month by the
due date
• Cannot carry a balance
• No balance = no interest
• Some charge cards allow a balance carry-over for
specific purchases, such as travel charges
11. An educational partnership between Consumer Action and American Express
Secured credit
cards
• Guaranteed by money deposited in an
account
• Credit limit usually equals the amount of the deposit
• Can be used by people with credit problems to
reestablish good credit
12. An educational partnership between Consumer Action and American Express
Sub-prime credit
cards
• Marketed to people who have poor credit
• Typically have very low lines of credit, large upfront
fees and high interest rates
13. An educational partnership between Consumer Action and American Express
Prepaid cards
• Also called stored value cards
• These are used by
• retailers as gift cards
• travelers as a safe way to get funds on the road
• parents who want to give their kids the convenience
of a credit card without the risk
15. An educational partnership between Consumer Action and American Express
Types of offers
• Pre-approved
• Invitations to apply
• Offers come in the mail, by telephone and online
• Instant credit at stores
16. An educational partnership between Consumer Action and American Express
Pre-approved
offers
• Personalized and based on credit history
• Federal law requires that pre-approved solicitations
contain a “firm” offer of credit
• The only exception is if consumer has experienced a
serious decline in creditworthiness since the offer
was made
17. An educational partnership between Consumer Action and American Express
Invitations
• Ask consumer to apply for a card
• Does not require a firm offer of credit
• Intended to interest consumers in applying
18. An educational partnership between Consumer Action and American Express
Instant credit
• Salespeople often ask you if you want to
get the store’s credit card
• Get a discount on purchases
• If the shopper’s credit is good, credit is
issued on the spot
19. An educational partnership between Consumer Action and American Express
Compare basic
terms
• Look for a box with:
• interest rates
• grace period
• annual fee
• This box is:
• required by law
• often headed with the words “Rates and Fees” or
“summary of terms”
20. An educational partnership between Consumer Action and American Express
Look closely
• Credit limits
• While the offer of credit may be guaranteed, the
actual credit limit may not be
• Balance transfers
• If you don’t know your credit limit, it’s difficult to
know if you can transfer balances from another card
21. An educational partnership between Consumer Action and American Express
Credit line
• Consumers don’t know when they apply
what credit line they will receive
• Many offers state “up to” a certain amount (for
example: “up to” $25,000)
• Key words — “up to”
• Company can—and often will—give consumer a lower
credit limit
22. An educational partnership between Consumer Action and American Express
Balance transfers
• Many offers include the opportunity to
transfer a balance from one card to
another without a fee
• Consumer should ask if this is a limited time offer
• Transfer balance after receiving card
• If the balance transferred is higher than the new credit
limit, the company may only transfer a portion of the
balance, or may decline the whole transfer, leaving a
balance on the old card
24. An educational partnership between Consumer Action and American Express
Cardholder
agreements
• Sent with every new card
• Legal contract between consumer and the
card issuer
• By using the card, consumer agrees to
honor the terms and conditions in the
agreement
25. An educational partnership between Consumer Action and American Express
Subject to change
• Card terms and conditions are subject to change at
any time
• Change notices are usually sent by mail, along with the
monthly statement
• Consumers should review everything sent by issuer, even if it
looks like junk mail
• Notices must be sent at least 45 days before the change
takes effect
• New rate will apply only to new transactions unless an intro
rate has expired, a variable rate has changed, you’re more
than 60 days late or haven’t paid as agreed under a workout
agreement
• If your credit card company is going to make changes in
certain fees (but not your APR), it must give you the option to
cancel the card before these fee increases take effect.
26. An educational partnership between Consumer Action and American Express
Keep all paperwork
• Save card terms and conditions in an
easily accessible file for easy reference
• When the company updates your
cardholder agreement, replace the old
copy with the new one
27. An educational partnership between Consumer Action and American Express
Annual percentage
rate (APR)
• Card’s interest charge, expressed as a
yearly rate
• The interest rate is the cost of borrowing
money from the credit card company
• Your card’s interest rate is usually for
purchases — if you withdraw cash you
might be charged a higher interest rate
28. An educational partnership between Consumer Action and American Express
Variable rates
• If card has a variable rate, the APR will
change when interest rates go up or down
• Variable interest rates change according
to a set formula using an “index” and a
“margin”
• The most common index is the Prime Rate
published in the business sections of
major newspapers and online
29. An educational partnership between Consumer Action and American Express
Prime Rate
• The interest rate banks charge their most
qualified borrowers
• Prime Rate is the “index” most commonly
used to set interest rates on variable rate
credit cards
• Other indexes used include the London Interbank
Offering Rate (LIBOR)
• Indexes are published in the business sections of
major newspapers and online
30. An educational partnership between Consumer Action and American Express
Fixed rates
• If an issuer calls a rate “fixed” the rate
can’t change ever, for any reason. So
issuers will use terms like “non-variable”
for rates that do not vary with the Prime
Rate.
• Non-variable rates can change at any time
after the first year, or whenever you are
more than 60 days past due, with 45 days
notice
31. An educational partnership between Consumer Action and American Express
Default or penalty
rates
• Higher interest rates charged for late
payments or decline in credit
• Default factors
• Late payment
• Bounced check
• You default on another account you have with the
same creditor
• Higher rate will apply to new transactions
only, unless you are more than 60 days
late
32. An educational partnership between Consumer Action and American Express
Default with other
creditors
• Some companies raise your interest if your
credit score declines, but they must give
you 45 days notice about the change
• This is sometimes called “universal
default”
33. An educational partnership between Consumer Action and American Express
Cash advance APR
• Most cards charge a higher interest rate
for cash advances
34. An educational partnership between Consumer Action and American Express
Credit card checks
• These special checks - “convenience
checks” - are linked to credit card account
• They can be used to transfer a balance from another
card or to make purchases or payments to companies
that do not accept credit cards
• Convenience checks are charged the cash
advance interest rate, usually higher than
the regular rate, plus a cash advance fee
35. An educational partnership between Consumer Action and American Express
Grace period
• The time between the close of the billing
cycle and the payment due date
• If you do not carry a balance from the last
credit card bill, interest will not be
charged on purchases if the new bill is
paid in full by the due date
37. An educational partnership between Consumer Action and American Express
Minimum monthly
payment
• The lowest amount you are required to pay
each month
• Paying just the minimum amount does
very little to reduce the amount owed
• Paying more than the minimum helps
reduce the amount of interest owed on the
card
• Excess payment must be applied to
higher-rate balances first
38. An educational partnership between Consumer Action and American Express
Periodic interest
rate
• APR divided by 365 days
• The daily periodic rate is used to calculate
your daily and monthly interest charge
39. An educational partnership between Consumer Action and American Express
Payment due date
• The last day that payment can be
accepted without penalty, generally 25-30
days after the close of the billing cycle
• Due dates must fall on the same day every
month
• If payment is not received by 5:00 on the
due date, a late fee will be charged
40. An educational partnership between Consumer Action and American Express
Dispute rights
• If you find a mistake on your bill, you can
formally dispute the charge
• You do this by notifying the credit card
company
• You can dispute charges for
• The wrong amount
• Something you didn’t accept
• An item or service that was not delivered
41. An educational partnership between Consumer Action and American Express
Take a break
Free annual credit reports
• www.annualcreditreport.com
• 877-322-8228
43. An educational partnership between Consumer Action and American Express
Annual fees
• Annual fees are common on charge cards,
“rewards” and airline miles credit cards
• Sometimes an annual fee will be applied if
you do not make at least a few charges
during the year
44. An educational partnership between Consumer Action and American Express
Annual fee tips
• Consider the overall value of a card when
comparing fee and no-fee cards
• For cards with airline miles or other
rewards, make sure the card’s benefits
and services are worth the price of the fee
45. An educational partnership between Consumer Action and American Express
Application fees
• Many sub-prime cards — and some
secured cards — charge a fee when an
account is opened
• Account-opening fees, including an annual
or application fee, cannot exceed 25% of
the initial credit limit
46. An educational partnership between Consumer Action and American Express
Application fee tips
• Secured credit cards are generally much
better deals than sub-prime credit cards
• You can find secured credit cards that
don’t charge application fees
47. An educational partnership between Consumer Action and American Express
Balance transfer
fee
• Charge for transferring a balance from
another credit card
• Commonly assessed as a percentage of
the transferred amount (for example, 3%)
48. An educational partnership between Consumer Action and American Express
Balance transfer
tips
• When applying for a new card, ask about
balance transfer fees
• Most companies don’t charge balance
transfer fees to new cardholders for the
first month or two
49. An educational partnership between Consumer Action and American Express
Cash advance fee
• Commonly charged as a percentage of the
cash advance (for example, 3%)
• Minimum charges are common
• A maximum charge may limit the amount
paid, but these are not as common as
minimum charges
50. An educational partnership between Consumer Action and American Express
Cash advance tips
• Cash advance fees are an expensive way
to get cash – not only do you pay the
percentage fee, but interest on cash
advances begins to accrue immediately
• Instead, use your ATM or debit card to
withdraw cash from your checking or
savings account at your own bank’s ATMs
or point-of-sale terminals
51. An educational partnership between Consumer Action and American Express
Currency
conversion fee
• Fees charged for purchases made
overseas, or purchases made from
companies based outside the U.S.
• Also called a foreign exchange fee or
surcharge
• Fees vary by issuer
52. An educational partnership between Consumer Action and American Express
Currency
conversion fees tip
• Before traveling outside of the U.S., shop
around to find a card with a low, or no,
currency conversion fee
53. An educational partnership between Consumer Action and American Express
Late fees
• Charged if your payment is late
• Payments received on the due date before
5 p.m. cannot be considered late
• Your due date must fall on the same day
each month
54. An educational partnership between Consumer Action and American Express
Late fee tips
• Always pay bills on time
• Allow at least seven days for the payment
to reach issuer if using the U.S. Postal
Service
• Consider online bill pay, pay-by-phone,
online payments at the issuer’s web site,
or automatic payments from bank account
• Try to avoid waiting until the last minute--you can be
charged a fee if you need to make an expedited
payment with the help of a customer service rep
55. An educational partnership between Consumer Action and American Express
Over credit limit
fee
• Charged if you go over your credit limit
AND you have given permission to the
card issuer to charge a fee if you exceed
your credit limit
• Only one over-limit fee allowed per billing
cycle
• If you don’t give permission, you don’t get
fee AND transactions that would push you
over limit are likely to be declined
56. An educational partnership between Consumer Action and American Express
Credit limit tips
• Know your credit limit
• Keep your credit in good shape by
accessing no more than 50% of your credit
limit at any time
• Call card issuer in advance when an
increase in your credit limit is needed
• Ask if issuer has free e-mail alerts to warn
when you are approaching your credit limit
57. An educational partnership between Consumer Action and American Express
Optional Fee-Based
Services &
Card Features and
Benefits
58. An educational partnership between Consumer Action and American Express
Optional services
• Most card issuers offer optional services
for a fee
• These may include credit protection
insurance, identity theft or fraud
prevention plans
59. An educational partnership between Consumer Action and American Express
Your choice
• You do not have to buy optional services
• Not buying them will not affect your card
application or change the terms of the
card
• Before making a decision on whether to purchase
optional services, get detailed information and review
the limitations and restrictions of the service
60. An educational partnership between Consumer Action and American Express
Free benefits
• Zero liability if your card is used to make
purchases without your authorization
• Cash rebates or merchandise rewards
• Rental car “collision damage waiver”
(CDW) coverage
• Buyers’ protection against loss and theft
• Extended warranties on items you buy
using your card
61. An educational partnership between Consumer Action and American Express
Common fee-based
services
• Credit protection services
• ID theft monitoring services
62. An educational partnership between Consumer Action and American Express
Credit protection
insurance
• Makes your loan payments if you die,
become ill or unemployed
• Coverage is quite expensive
• There are significant limitations
63. An educational partnership between Consumer Action and American Express
ID theft monitoring
services
• Credit monitoring companies charge a
yearly fee to check your credit report
• Alerts you if information in your report
changes, such as reviews by potential
creditors or new accounts
• You can check your credit report yourself
for free
64. An educational partnership between Consumer Action and American Express
About Consumer
Action
• www.consumer-action.org
• Free educational materials on credit cards
and other personal finance topics
• You can get advice and referrals by calling
Consumer Action counselors
• 415-777-9635
• 213-624-4631
• TTY: 415-777-9456