Debt Care USA Inc.

this is the Official Blog of Debt Care USA Inc.
www.Debtcareusa.com

Toll Free # 800-266-9085 Option 1
Fax # 866-285-7304

Email:
Info@DebtCareUSA.com

Mail:

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Stockton CA, 95204

To have a merchant account with Credit Card Processor (CCP) is trouble-free.  A program specifically intended to accept credit cards, which any business can afford, has been designed to make this a reality.  Be it a MasterCard, Discover, Visa, American Express or ATM, you can receive payments to your own bank account directly.

We all know that there is a faster way of buying what you want.  Customers have preferred ordering online, by phone or by mail to avoid the hassle of commuting aside from saving them time.  And how do they pay for every purchase?  With their credit cards.

If your business cannot provide this service, then you definitely will incur major losses.  Having an e-commerce merchant account is necessary for you to process credit cards for telephone, internet or mail order transactions.  Doing your business with these types of transactions limits you to hold on to the credit card and swipe it through a magnetic strip reader.  This is where Credit Card Processor (CCP) can assist you.  Open a credit card processing merchant account with them and within a few days, the whole operation with all of the benefits will be available for your business.

To set up your e-commerce merchant account,

1. Choose how you would want to receive credit card payments (software, virtual terminal or equipment)
2. Then, apply online.

So easy, yet so important to your business!

info@creditcardprocessor.com

Processing credit card transactions has now helped a lot of business to thrive.  One such company is Credit Card Processor (CCP).  Having been in the business of credit card processing for 15 years, it has earned the reputation of providing good standards in processing solutions.

One such benefit of getting a merchant account with them is its Merchant Cash Advance Service.  The company aims to help you get that business push you wanted and is willing to assist you with your cash out difficulties.  You can get as much as $ 2,500 to $500,000 business cash advance.

Availing this benefit is easy.  Check if your business:

• accepts visa and/or MasterCard
• can process a minimum of  $2,500/month in visa or MasterCard transactions
• has been existing for 9 months
• can supply 4 months credit card dispensation statements (12 months if seasonal)

Credit Card Processor (CCP) has been voted as an option to financing a merchant.  It provides you your needs for which banks and other business finance assistance companies cannot extend.  It has helped a lot of businesses to exchange their Visa and MasterCard sales into instant cash.

So, grab this terrific opportunity of letting your business grow and get more chance of hitting your target.  Allow Credit Card Processor (CCP) help you expand your business.

info@creditcardprocessor.com

In business you have to accept the type of payments your customers what to use. You might think credit cards are a hassle. There are so many fees involved. Cash is just so much easier.  Credit Card Processor (CCP) can change that way of thinking. They provide excellent merchant account services for the lowest rates and fees in the industry.

People don’t like to carry cash. Accepting credit cards will boost your sales. It may sound simple but accepting credit cards can realistically increase your sales by approximately 70%.  Think about missing out on 70% of your business because you don’t take the kind of payment that your customers are using the most.

Credit Card Processor (CCP) is the best credit card processor in the market. Why? They offer the lowest fees of any credit card processing company GUARANTEED! If you find a cheaper fee with any other credit card processor, Credit Card Processor (CCP) will give you $500 cash! Talk about being the best. When was the last time your bank offered to give you $500 if they charged you more than another bank? Probably never. Nor has your bank ever made an offer like that for anyone else. Take advantage of this great opportunity. Check out Credit Card Processor (CCP) today!

info@creditcardprocessor.com

With the right security encryption, credit card purchases are completely safe both on-line and off. Get secure credit card equipment and merchant account services from Credit Card Processor (CCP). Credit Card Processor (CCP) uses the latest in technology to ensure the safest transactions every time. Credit card fraud is a big problem these days. That is why you need the latest PCI compliant credit card equipment with the best and latest software. Your customer’s safety is your responsibility. If a customer learns that their credit card was hacked while shopping at your store or on your website, not only will they never return, they will tell everyone they know. Plus, post it on every forum, in every blog, tell all the news agencies, and maybe even make a youtube video about the experience.

Your business will be ruined! Your reputation will be shot! You won’t be able to show your face anywhere without being recognized as the guy with an insecure credit card processor. Don’t let this happen to you. Protect your customers and protect yourself.

info@creditcardprocessor.com

Credit card processing charges counts among the bulky expenses in the businesses. All the businesses that directly deals with consumers have to incur huge processing expenses. Due to this reason businesses are required to opt for low cost processing solutions. Also while searching for a new processing solution, the merchants consider their existing service provider for making a comparison. And inspite of looking for a suitable processing services and the cost, they inquire about the savings they get over the prevalent rates and fees.

On the contrary the merchants should inquire for their actual cost of the services and only then they should measure their actual profits. Interchange fees published by the card companies like Visa and MasterCard govern the underlying costs of all credit card processing charges. Interchange fees are basically the wholesale rates and fees charged to process credit cards. The fee is readily available for download from Visa and MasterCard’s websites.

Every merchant should know the interchange costs incurred in their businesses. It will help you in finding the reasonable merchant account solution for your businesses. You can also ask for the audit from the prevailing credit card processor or from website that offers such audit services free of charge or at low prices. Once you are aware of the actual costs, you can meticulously scrutinize the merchant account fees and rates from new providers.

Rigorous efforts are required to figure out the interchange costs being paid by the businesses. Also you can have the services of prospective companies do the work for you on behalf of you if you looking for a new provider in the market. Go for a detailed assessment of your current service materialized into actual interchange and association fees in contrasting to provider profit.
For more info please visit www.paynetsystems.com

For some reason, I found myself on the email marketing list for the online site “Money Matters.” One such topic is how to “safely” evade taxes. Ooooh, evil word taxes. We hate them! Phooey on the government and taxes. What have taxes ever done for us?

Well, for instance, taxes fund our military that we are so proud. Without taxes, our country would be less safe. Taxes go our police forces and fire departments – Men and women who put their lives at risk to save us. Tax money paid the heroes of 911 and Hurricane Katrina. Shall we deny our heroes a salary because we are too stingy and greedy? We pay taxes to schools to pay the salary of teachers. Our taxes go to Medicare, the health care for our seniors. Taxes go toward our transportation and infrastructure of our entire nation. So the question, if more and more people evade taxes for additional spending change – could we not see the overall decay of our entire nation.

Many would like to privatize most everything in our nation, our health care, infrastructure and schools. How can we as citizens of the United States trust corporations to run social programs when their main goal is profit? How can we trust the CEO of a company to care for the needs of people of the nation, when all he is concerned about is how much money is in his bank account? Have we not learned anything for last year? Greed is not good! Privatization of social programs in this country will promote a feudal system, where more and more people are living below their means and it will create an isolated elite aristocracy that will live of our labors. Hey, that’s great news for Credit corporations because then more people will have to spend on credit and go further into their debt.

It is obvious to me, that people and corporations who want to, or have evaded taxes are selfish, soulless people who care for no one but themselves. Taxes should be considered our dues to the nation we love, and the communities we live in. We should want to support each other and make it a better place for all to live, not so a few can have bigger houses. If you do not support taxes, you do not support America . And you cannot be considered a true patriot, because like our soldiers who are giving their lives to our wars, we the civilians needs to give a little bit back as well.

Well, it’s been two months since I started my debt diet, my financial fitness makeover, my own personal fiscal reform. On the positive side, the second month went much faster than the first. On the negative side, I’ve cheated more in the second month than I did in the first.

In terms of successes, the big scary ugly bill that got this whole thing started is now within striking distance of being paid off in full. I’d set up a monthly payment plan to get it done and that was supposed to stretch over a period of six months from when it “officially” started on November 15. But I ended up throwing a down payment at it plus a host of other unscheduled payments and after my next paycheck, it will officially be gone. That will be one less thing to worry about, yet there is still a long way to go.  A very, very long way to go.

Over the last two months I’ve gone for long stretches where I firmly realize that I can live with less. And in the last week or so I realize that I’m just a person who wants more. I feel like I make a decent salary and there are certain things I deserve to do for myself. The thought that I have to keep steadily hammering into my head is that if I just tighten the belt for a single year of my life, I’ll be able to enjoy things a whole lot more with those financial obstables out of my way. I just think of all the wonderful things I could be doing with my money if I didn’t have to devote such a significant chunk of it each month to credit card bills and loans — amazing trips and the like.

I watched a BBC documentary on binge drinking tonight, and one of the main things they focused on was that these people who were drinking so much, often underestimated how much they were really drinking and how much damage they were really doing to themselves. I suppose the same thing went for my spending. Each time I plunked down a credit card at a store, I often underestimated how much I was going to be spending. And each time I missed a payment or let the bills add up, I underestimated what kind of negative impact it would have on me later in life. I suppose it’s completely accurate to say that — much like a party girl binge drinker — I’m paying for the mistakes of my 20s in my 30s.

Death by credit card: drowning, heart attack, suicide, murder.  Maybe this sounds like a bad soap opera, but it is more likely a chronicle of our times.  While some people manage their credit cards well, paying off their balance monthly, how many people do you really know like that?  Anyway, people lie about it.

Reality Dose #1:  If you can’t afford it now, you won’t be able to pay it off later.  If you are tight for money now, you’ll be tighter after this new purchase.  If you want to make yourself feel good with some retail therapy, buy a pair of scissors. And cut up your credit cards. Don’t faint!  I heard the thud from here.

Reality Dose #2: You cannot spend money you do not have.    Repeat this mantra next time the urge to splurge hits you. What you need is to manage your money so that you will have a pile of it for the next purchase.  You can do that.  There is hope.  Stick with me here.  I will help you get from red to black, from poverty to abundance, and from sick and tired of never having enough, to grateful and grinning in prosperity. Keep reading.

Our goal for December is to pay $1,260 toward our debt. Of course, there is interest ($362) , so the net will be $898.

So our totals at the end of December should be:

Credit Card Debt  ::  $ 38,275.93
Taxes Owed         ::  $    2,771.70
Personal Loans    ::   $           0.00

Total Debt*           ::  $ 41,047.62

*does not include school loans

And now for the Savings Goals – at the end of November, we aim to have:

Regular Savings  :: $    100
Family Leave       :: $ 1,080
Emergency           :: $    550

Total Savings       :: $ 1,730

According to MSN Money, our debt-free date is still :: June 24, 2012

But I think we can get it all paid off by February 2012, which is 5 months earlier, so we have June as our goal and February as our “push” goal.

Debt Reduction

Our goals for November were:

Credit Card Debt  ::  $ 38,889.55
Taxes Owed         ::  $    2,940.23
Personal Loans    ::   $           0.00

Total Debt*           ::  $ 41,826.78

And here is where we were after 11.30.09:

Credit Card Debt  ::  $38,983.92
Taxes Owed          ::   $   2,961.70
Personal Loans    ::   $       00.00

Total Debt*            :: $41,945.62

*does not include school loans

Good month in the debt reduction department!!! Our goal was that we would pay $1,260 toward debt, with a net reduction of $896. Our total reduction for the month was $780. This was a little lower because of two late payment fees (which I’ll fight because they are due to the card companies moving dates to get in compliance for Feb 2010), so that is disappointing, but we still went another month without using a credit card (whoo-hoo!) so we do feel accomplished.

Budget

I am so proud of us for staying closer to our budget this month. My hubby and I really worked on keeping food costs down, and that made a huge difference.  We had about $200 extra for household items because of the move, and there will be few more of those popping up in the next month, too, but overall, it was a better month.

Savings

Savings Goals for November:

Regular Savings  :: $    300
Family Leave       :: $ 1,250
Emergency           :: $    535

Total Savings       :: $ 2,085

Where we landed at the end of November:

Regular Savings  :: $  437
Family Leave       :: $  605
Emergency           :: $  533

Total Savings      :: $  1,575

This is lower than we wanted to be, but that is because we used part of our Family Leave budget for a family medical procedure (for which part of what this budget was designed). Still, we are glad we have so much in savings, because the beginning of December started with a $700+ car repair (gulp)…

It’s that time of year again! There are only 22 21 days until Christmas.

It used to be that we would then hear how many shopping days that meant. Now, however, when the shops are mostly open 7 days a week and until all hours, it makes little difference, you can shop any day and I’m not even going into internet shopping!!

Here in New Zealand, for many it is also the countdown to the summer holidays, although, having been in Christchurch for 4 days and wearing winter clothes, one could be excused for wondering!! So, even without the winter weather, this is notoriously a stressful time of year.

There are parties to plan, organise and attend. There are meals out and in, to plan, organise and attend. There are holidays to plan and organise, and then there is Christmas day to plan, organise and attend (unless of course you don’t celebrate Christmas) If you have children, there are all of their end of year functions to plan, organise and attend! One word for it – BUSY!  Tired already?! Stressed?! It’s not over yet!

You are now expected to shop – for meals, for holidays and of course, for Christmas presents. Even if money is not an issue for you this is stressful. What to buy for Dad, Grandma, Auntie Collette etc?

It is a really good idea if you can, to make a Christmas present list, together with a budget before you even enter the shops. If you can’t get as far as knowing what you are going to buy for Dad, at least know the limit of what you want to spend on him and don’t go over. On my website, I have some other tips (My top 10 Tips) for reducing the amount you spend at Christmas. Go here to download for free http://www.financialclarity.co.nz

There I advocate just taking the budgeted amount, in cash, and no credit cards, when you go Christmas shopping, then you can’t go over! This is particularly if you are inclined to overspend, compulsive shop or, have any kind of shopping addiction. Of course, the same trick works when shopping at any time, not just at the holiday season.

This season, as I said in the beginning, is stressful by it’s very busyness, try not to make it more stressful by incurring debt as well. Most of all enjoy and have fun!

Author: Frank Hague
Source: articleage.com

Need a credit card? No problem! And that’s exactly the problem.
In a nation where instant gratification is touted as a virtue,
credit is available to anyone no matter what their credit
history. This is causing personal and financial problems for
many consumers who abuse the easy availability of credit and
find themselves unable to pay back their loans.

There was a time in history when extensive credit was available
only to the aristocracy, and debt carried a social stigma for
anyone, <a href="http://www.

searscardinfo.com”>searscard.com, else. The poor and middle class were carefully
scrutinized when they applied for loans, and debtor’s prison
awaited those who did not repay their debts.

Americans are more indebted, searscard.com, than ever in the, searscard.com, nation’s history.
The amount owed on loans for cars, homes and credit cards adds
up to nearly 100% of annual after-tax income, according to a
report in Business Week magazine. Yet, according to the Consumer
Fedaration of America, this alarming level of indebtedness has
not deterred the moneylenders: credit card companies have more
tha $3 trillion of unused credit lines up for grabs,
approximately $30,000 per American family.

According to Fair, Isaac and Co. (FICO), the average consumer
has access to $12,190 on all credit cards combined, searscard.com, . Not everone
is,, searscard.com, searscard.com, a spendthrift: more than half of cardholders use less than
30% of their total credit limit. However, one in eight is using
80% or more of their credit limit, and 1 in 10 have a total debt
greater than $10,000. Cardweb.com estimates that 20% of American
credit cards are maxed, searscard, searscard.com, .com, out.

There are specialized credit cards being offered to all kinds of
borrowers, from students to small, searscard.

com, business owners. Each
demographic group is targetted with a specific sales pitch.

People with good credit ratings can easily access lines of
credit at an interest rate of 5% or less over the current prime
rate, and such applicants, searscard.com, are also qualified for Platinum credit
cards. However, about half of cards in circulation are Gold
cards, which require just $10,000 in annual income for
qualification.

The credit industry uses credit scores to divide, searscard.com, potential
customers into “prime” and “subprime” markets, referring to the
prime interest rate set by banks.

Elite borrowers can obtain a
line of credit on a Platinum card at an interest rate around
12%. A Gold card carries an average interest rate of 15%, while
a standard credit card, searscard.com, charges rates, searscard.com, around 17%. Then there’s
the subprime market, which first emerged in the 1990s, dealing
with consumers whose credit scores are 500 or less, little or no
credit history, those emerging from bankruptcy and anyone, searscard.com, with
an inconsistent performance in managing credit.

These people are
often low income earners and/or poor money managers, but the
credit, searscard.com, card industry finds a way to profit from these most needy
of borrowers.

Unlike “secured” credit cards, cards offered to subprime
borrowers require no security deposit, searscard.com, . Credit limits start out
very low — initially in the $100 to $500 range. However, fees
can be hundreds of, searscard.com, dollars and interest rates can easily soar to
usurous rates of 30% or more.

The industry also, searscard.

com, offers “secured” credit cards to offer
high-risk customers. Borrowers are required to pay an up-front
security, searscard.com, deposit from $99 to $5,000 to, searscard.com, serve as collateral in
case of default.

Many social and business commentators have denounced the
subprime lending business for exploiting,, searscard.com, searscard.com, the poor, comparing the
industry’s problems to depression-era banking scandals. Lenders
take on poor and desparate customers at their own risk, writing
off losses in the 15% to 17% range, versus the average industry
loss rate of 6.

5%, according to CardWeb. The delinquency rate
among subprime card issuers is 10%, twice as high as the
industry average. Some credit card companies, such as NextCard,
have been unable to recoup their losses and have closed up shop.

According to many pundits, the American economy has been
thriving in the past 5 years, with a steady growth in the GDP.
However, 90% of this growth has been due to the housing bubble;
real wages have declined by 4% since 2000 while health costs
have risen by 40%. Middle and lower class Americans are becoming
increasingly, searscard.

com, financially squeezed and unable to pay their debts.

A record number of 1.3 million cardholders, searscard.com, filed for bankruptcy
in, searscard, searscard.com, .com, 2004. In response, the credit industry lobbied successfully
for, searscard.com, stricter bankruptcy laws. However, according to the Consumer
Federation of America, the increasing incidence of loan defaults
did not spur the card companies to become more discriminating in
their choice of customers. In fact, they actually boosted their
promotional campaigns to a record 5 billion solicitations (
approximately 50 per American household) compared to 3.

5 billion
the previous year, many of these ads targeting the sub-prime
market, searscard.com, . Now consider the debit card: it is decorated with the
Visa or Mastercard emblem, and has all the functions of a credit
card in that can be used at a cash register and for internet and
telephone purchases. However, it takes money directly out of the
cardholder’s bank account and allows no more spending once the
account is empty. A debit card has no monthly fees and no
interest charges, and no chance of getting into debt.

Perhaps
this is the best consumer solution to a credit-mad economy.

Elderly Americans are frequently victims of debt problems and need to file bankruptcy.  Especially those on fixed incomes.  However, many senior citizens don’t realize that they also have certain advantages afforded to them under the bankruptcy laws.

For example, retirement accounts and social security income are almost always protected from creditors. And many senior citizens are “judgment proof,” which means that even if a creditor takes legal action and sues such a person, they won’t be able to recover anything because there aren’t enough assets and/or the assets that do exist are protected by the bankruptcy laws.

A problem for many senior citizens is that they feel obligated to make the minimum monthly payments on their credit cards, even though it may take years and years to pay off the debt and even at the expense of cuts to what they spend on basics like food and healthcare.  What they may not realize is that filing for bankruptcy no longer has the same stigma it used to have.  And that the bankruptcy laws are in place specifically to help people in their situation so that they don’t have to live in an inescapable “debtor’s prison.”

If you’re facing financial struggles and are considering filing for bankruptcy in New York, please feel free to contact me for a free initial consultation.  I’ll help you understand your options and how to best protect your assets and get the full benefit of the bankruptcy laws available to you.

Contact Bruce Weiner, Esq.

EMAIL Bruce Weiner
Phone
(718) 855-6840 (Local)
(866) 402-8476 (Toll Free)
Fax (718) 625-1966

Go to www.nybankruptcy.net to learn more about Rosenberg Musso & Weiner LLP and/or to set up a free consultation.

The November 21st edition of the New York Times featured an article on some of the tricks credit card companies play with billing.   You can read the article here.   This interesting article looks at some of the games credit card companies use to increase late fees. 

Perhaps it is time for you to move your credit card to BMI FCU.  No games, no tricks; just a great card with a great rate!  Apply today by clicking here.

The BMI FCU Platinum Card has earned a 5-Star Rating and the Seal of Approval for fair and ethical practices from the Credit Card Connection, an online consumer advocate for fairness in the credit card industry.

Author: Jon Francis
Source: articleage.com

One of the most often asked questions about credit cards is ‘what’s the ideal number of credit cards to have?’ The question is, www.eppicard.com, asked as if there is a magic number that will tell lenders, www.eppicard.com, that you’re, www.eppicard.com, credit-worthy without hacking away at your credit rating because you have too many credit cards. The reality is not that simple.
The ideal number of credit cards is a very individual thing. It depends on a combination of factors, including what type of credit card each one is, your monthly income, the amount of credit available to you and your history of making payments on your credit cards.

According to the NS&I Quarterly Savings report issued in June, the credit card UK market is doing booming business, with 4.1 credit cards for every adult in the UK. So is 4.1 the magic number?
In most cases, say, www.eppicard.com, financial experts, the right number of credit cards is between 2 and 6. Of those, you should have at least one major credit card – Mastercard, Visa or American Express – as those are accepted nearly everywhere you go and are the most genuinely helpful in the case of an emergency.

, www.eppicard.com, Other credit cards you may carry include a store credit card – which generally charge interest at whopping, www.eppicard.com, rates close to 30% – and a, www, www.eppicard.com, .eppicard.com, gasoline card. More important than how many cards you’re carrying, though, is, www.eppicard.com, how much you owe on them.
One of the things that factors into your credit score is your debt/credit ratio. The credit bureaus compare how much credit you have available to you in relation to how much you’re currently using.

If you, www.eppicard.com, have one credit card with a credit limit of ฃ1000 and you’re carrying a balance of ฃ500,, www.eppicard.com, then you’re using 50% of your available credit. Is that good? That depends on the source of your information. Some lenders would consider 50% credit usage to be unacceptably high. For others, it’s right in their target zone. The most conservative lenders balk at a debt/credit, www.eppicard.com, ratio above 25-30%, www.eppicard.com, of your available credit.

There are other reasons to limit the number of credit cards you carry as well. When you have, www.eppicard.com, one credit card, it’s easy to keep track of your spending and your account due dates. Add a second credit card, and you’re still all right – but what happens when your one credit card turns into 15 in your wallet? At that point, you’re at serious risk of accidentally missing due dates out of sheer forgetfulness – and that will kick up your monthly charges, sometimes on more than just the affected card.

So what is the ideal, www.eppicard.com, number of credit cards? Here are some rules of thumb to help you decide if you have too few, too many or just enough:
1. Your monthly credit, www.eppicard.com, card payments should be no more than 25% of your monthly income.
2. If you’ve forgotten, www.eppicard.com, to make a credit card payment because you just, www.eppicard.com, MADE a payment – but it was to another company – you probably have too many cards.
3. If you can only make, www.eppicard.com, the minimum payments – and sometimes, www.

eppicard.com, not even that – then you should consider consolidating some of your debts onto one credit card. UK companies offer many balance transfer cards that can help you consolidate your debts.
4. If you’re not sure which cards are at or close to their limits, you probably have too many.
5. If your total debt is less than half of your total available credit, you’re probably in pretty good shape.
There are some really good comparison sites where you’ll find all the best deals on offer for any credit card UK companies offer.

If you’re looking for other credit cards,,, www.eppicard.com, www.eppicard.com, your first credit card, or a balance transfer credit card to reduce the number of cards that you carry, moneyeverything.com is the ideal first stop.
Jon Francis has been involved in various areas with the world of finance and has a keen eye for a bargin! He has an in-depth knowledge of the credit card UK market and, www.eppicard.com, now helps others get the best from a credit card. For more information visit “http://www.

moneyeverything.com”.
Article Source: http://EzineArticles.com/?expert=Jon_Francis

Accepting credit cards has a great many benefits to all merchants, and Credit Card Processor (CCP) can help you get the most out of them. Before the days of credit cards, merchants had to evaluate a customer’s ability to pay, do a credit check and verify employment before extending credit or accepting a payment plan. Banks now assume those duties, and the risks involved. And, based on a person’s credit score, may or may not issue a credit card.

Therefore, if your customer does have a credit card, it is your best interest to get a credit card merchant account. Whether or not he can repay the bank is no longer your concern. You are guaranteed payment. Your customer can enjoy a hassle free transaction, and buy more of your goods or services. On-line shopping is nearly impossible without credit cards, but brick and mortar stores also realize more sales by having the ability to do credit card processing.

Credit Card Processor (CCP) offers low monthly and per transaction fees, making it easy and affordable for you accept credit card payments. Don’t miss out on holiday shoppers! Start accepting credit cards today.

info@creditcardprocessor.com

Credit Card Processor (CCP) provides credit card processing equipment and merchant account services to on-line and off line businesses. Accepting credit cards is essential in today’s market and having reliable merchant account services and secure transactions makes every thing run smooth.

Credit cards are becoming more and more popular everyday. Everyone carries at least one since it is an easier way to pay and safer than carrying cash. On-line purchases are almost exclusively paid for with credit cards. Businesses don’t want to accept checks and take the chance that the check will not clear. This will make it almost impossible to collect your money. With a credit card merchant account, you are guaranteed to be paid, even if the customer defaults on his credit card, you still get your money.

So in today’s business if you don’t accept credit cards you are potentially missing out on 75% of your sales. Sign up at Credit Card Processor (CCP) for secure transactions and the lowest fees.

info@creditcardprocessor.com

‘Tis the season to do shopping — and get bombarded with offers to open credit cards.

The deals are tempting, too. ”Open a charge card today” and save up to 20% on your purchase. Considering that the average Black Friday ticket was $343, that’s $68 saved per store.

For big-ticket items like televisions, the savings are even bigger.

But for people in the market for a new home — or looking to refinance — taking advantage of in-store savings could be a long-term money loser.

Every time you apply for a credit card, your credit score drops.

According to myFICO.com, “new credit” accounts for 85 out of 850 possible credit scoring points.  New credit is defined by such traits as:

• Number of recently opened accounts
• Number of recent credit inquiries
• Time since credit inquiry(s)
• Proportion of accounts that are recently opened to all open accounts

Shoppers with few open credit cards are more likely to see their scores drop that shoppers with many cards. 

Regardless, a credit score is worth protecting because of how mortgage rates are made.  A conventional mortgage applicant with 20% equity whose FICO is 720-739 will be offered rates 0.125% higher than a comparable applicant at 740.

• For 700-719, the rate increases by 0.375%
• For 680-699, the rate increases by 0.750%
• For 660-679, the rate increases by 1.250%

Having a low credit score can be expensive.

It is okay to take advantage of in-store savings during the holiday shopping season, but it’s also important to be aware of how your credit score may be affected.  

If you’re not applying for a mortgage in the next six months, you’ll likely be alright.  But, on the other hand, if you know you’ll need your FICO soon, consider whether saving 15 percent on a $343 ticket is worth the long-term cost of a higher mortgage rate.

Rant #1: You know shit is bad when the first thing you think of when you open your eyes in the morning is how much you owe to various people. And even though I can’t do a fucking thing about it, it never EVER leaves my brain. 3 credit cards, 9 trillion school loans, Samantha, collections agencies, my mom, your mom, everyone’s mom, my bank (well now my mom), my grandmother… ouch. I need a paper bag. Yes to both…hyperventilating and vomiting thanks. Oh! and my cell phone and the state of Virginia because of a sweet black cop who thought 80 mph on I-95 was too fast. Dear nice black cop with the southern twang, kindly GO FUCK YOURSELF! Good day!, Lexi. Hmmm…I actually do feel kinda better. The companies listed above aren’t any richer though. Hahaha.

Rant #2: So I’m a kind soul…sort of. I let a woman out in front of me this morning who was waiting to get out onto Route 9. After waving her in so hard my arm nearly fell off (PAY ATTENTION!) she went. And I’m-not-even-joking she did 25 miles an hour and let a tractor trailer out in front of her, all the way up route fucking 9. No wonder people in this state are nasty drivers, because of people like that woman. She wasn’t even old.

“Deep breath” I feel better now.

By Sally Greenberg, NCL Executive Director

Last week’s public television’s Frontline featured “The Card Game,” an investigation of the credit card industry and what’s ahead for consumers and banks.

Frontline’s conclusions aren’t good news for consumers: Despite passage of the May 2009 Credit Card Accountability Responsibility and Disclosure Act (“The Credit CARD Act”), the days of tricks and traps by banks and other financial institutions are far from over.

I ran headlong into the world this past week when I intervened with Capital One Bank on behalf of a family friend who was panicking over a credit card problem. The friend — I’ll  call her Marti — earns just over minimum wage in each of the two jobs she holds. She called me because she knows I do consumer work for a living. Anyway, Marti couldn’t figure out why her credit card balance kept growing when she hadn’t used the card since last year. Marti is conscientious. Each month since April 2008 she has faithfully paid the minimum amount that appeared in the box on her bill — yet her balance grew and grew.

Frankly, I couldn’t figure out the bill either. If she pay the minimum balance, it may take a long time to pay off the balance, but the balance shouldn’t grow. Or so I thought. Welcome to the world of “over credit limit” charges. Marti’s card carried a $750 limit. In her last transaction — April 2008 — she had gone $8 and change over her credit limit. That $8 triggered a $39 “over-limit” charge, accompanied by a finance charges. So, while Marti paid the minimum each month, her balance remained above the “over credit limit” triggering multiple $39-charges since last April.

I only learned this by calling Capital One. Indeed, Marti’s balance had reached $1,080 without her charging a dime on the card since last year. That’s $330 purely in finance charges — set at 22% — and over-limit fees. After much cajoling, the supervisor with whom I spoke agreed to forgive three of the $39 charges. She said she couldn’t do any more.

This story reinforced what the Frontline reporters found: that credit card companies trap consumers — particularly low income consumers — in a never-ending spiral of fees and charges that grow larger by the month. Even consumers like Marti, who pay something each month, find themselves sinking deeper and deeper into debt.

Marti is, I suppose, one of the lucky ones. She has someone to advocate for her. Still, there’s something I don’t understand: What happened to a bank earning profits the old-fashioned way, by making a reasonable profit by lending consumers money at reasonable interest charges. Say 6 or 7 percent?

But that’s not how banks make their money these days. And Capitol One’s practices aren’t unique. In 2007, the banking industry earned about $29 billion from overdraft fees, according to Celent, a consulting firm for the banking industry. That is more than the $28 billion consumers spent on major appliances and the $14 billion they spent on books.

If you think about it, banks today make much of their income from things their customers do wrong. Like unknowingly going over a credit limit, or being a few days late paying their bills. The new CARD bill will curb some of these practices, but undoubtedly the banks will find new tricks and traps. That doesn’t sound like a good customer relations strategy to me.