Personal Growth Blog for Philip Tirone - Credit Scoring Expert and Champion for the Underdog » 720

Credit Card Companies – Can They Do That?

admin — Thu, 12 Nov 2009 18:21:34 +0000

Have you had your credit card interest rates go up?

Have you been treated unfairly by your credit card companies or banks?

Are you willing to tell your story? If so… you can help!

I’m heading back to Washington to lobby our elected leaders and I need as many stories as possible so we can make a difference.

Let’s face it…. The LAWS are not fair, and they need to be changed!

Tell me your worst story about your bank or your credit card company.

1) What happened?

2) What did they tell you?

3) Why wasn’t it fair?

The more detail the better!

Post your comments below! Do it now!

Don’t Let the Foreclosure be the End of Your Credit

admin — Wed, 15 Apr 2009 19:01:11 +0000

“The Wall Street Journal” published an article today how foreclosures will start ramping up because the temporary moratorium (on foreclosures) is over. Over the next few months the number of foreclosures will increase tremendously, because people will be unable to pay their bills.

If this is you, do not let this be the end of your credit.

People think, because they have a foreclosure, their credit will be impacted forever. This is NOT true.

7 Steps to a 720 Credit Score is designed to get people with a foreclosure on their credit to a credit score of 720, four to five years sooner than letting the foreclosure fall off your credit report. You are going to be judged by your credit score whether you like it or not. The foreclosure will have a significant impact; however, it doesn’t have to have a significant impact for long.

Bank of America’s “fair” Move

admin — Thu, 09 Apr 2009 19:02:46 +0000

I guess it’s fair, after all, it’s their company… no wait, it’s us, the taxpayer who saved them. So after the bank accepted billions and billions of dollars in taxpayer stimulus, they have decided that credit card interest rates are too low, even though rates are much lower. That makes sense.

Not only are they cutting our credit limits (previous posts), which impact our credit score, but also are raising our rates, which is going to impact how much we can pay, which will also impact our credit score.

Bottom Line: If you get a notice of a your credit card raising its interest rate; call the bank and agree not to charge any more on the credit card, and they will keep your previous rate. Per my book, 7 Steps to a 720 Credit Score, make sure that your balance is under 30%, so your credit score won’t be negatively impacted.