Thanks so much to everyone that completed the video survey in the last issue!
Your wonderful comments mean so much to me! It takes a lot of work to create
video, but hearing how much you enjoyed watching, and that the information was
helpful, makes all the work worthwhile!
CNNfn asked me back for an interview on 11/11/04. CNN is closing the fn
(Financial News) division in December, so this is my last time on Your Money
with Ali Velshi. They filmed the last show on 11/12/04 and will be re-running
shows through December. This show is about reading the fine print in credit
offers.
PBS aired a great show last week on credit cards titled, Secret History of
the Credit Card. They listed DebtSmart.com on their web site as a trustworthy
resource, saying "If you feel like your credit card company did you wrong,
you'll find empathy here. Just reading one person's horror story ('Providian
Raised My APR to 29.99%') may make you feel better, or possibly worse, if you're
a Providian client. There's plenty of advice too, including tips on avoiding
holiday debt and teaching kids the value of a dollar. And after you've learned
something from the site, there's a chance to prove it with a section of
quizzes."
Credit card company insulted me and made me wait
by Scott Bilker
Dear Scott,
I can't figure it out, my car broke down and I had to shell out $1,300 in cash.
I applied for a card with auto service place and was declined! My credit score
is 736. Last month I had my line of credit increased to $300,000 but only owe
70,000. Today, I had a $4,000 auto increase on another card, number two. I owe
zero. Credit limit $11,000. My other credit card (number three) limit is $29,000
but only owe $1,800. I have a history every year of paying my home off with a
zero percent credit card, every year, I transfer 20,000 to a 12-month card and
pay in full. I close it and open up a new one. Repeat every year. How could they
embarrass me? The auto center made me wait 45 minutes for approval and then deny
me! But my other credit card gave me the $4,000 increase the same day! What are
they thinking? Is it that this credit card company is the first one who has
figured out that I am going to pay it off after the zero percent for 90 days?
Is it that they are onto my game of getting out of debt fast and know that
they won't make money off of me? Help...before I turn gray! Thanks for reading
my email.
Nothing makes me happier about what I do than when I receive letters from my
readers. Here's one I received last week from Chris, "I am very honored
and pleased to take this time to write to you and thank you. One day I found
your book in the library and found myself addicted to "Credit Card and Debt
Management". I use all of the formulas and tables in the back all of the
time, and in doing so, have turned my bills around from paying them off in a
matter of a couple years faster. Thank you for letting me not worry
anymore."
SURVEY: More money for the holiday
by Scott Bilker
Hey, we all wouldn't mind having more money! Many people are doing extra
things this holiday season to earn more money. From working overtime to selling
stuff online, it seems there's always a need for more cash this time of year.
Please share your methods and/or ideas for getting some extra shopping bucks by
filling out this issue's survey.
How are you buying a car with credit cards?
by Scott Bilker
Scott,
Great web site! I read your article on purchasing a car with credit cards. I
couldn't agree with you more! Money is money. And I want to borrow at the lowest
possible rate!
Mechanically, how are you completing the transaction? I've heard some
dealerships don't accept credit card purchases (because of the CC discount?).
Assuming you used a convenience check, how did you optimize that transaction?
Did you quickly transfer the balance to a 0% card?
"CardRatings.com has been offering ratings of credit cards since 1998
and has been featured by Good Morning America, The Wall Street Journal, Consumer
Reports®, NPR, PBS, etc. Thanks to consumers like you, CardRatings.com has
become the most comprehensive free source for comparing credit card
offers."
Helping you with your debt is very important to me personally! If you've been
reading my articles, you know that I always encourage self-help as a first step.
However, being buried in debt can be very overwhelming, which is why you may
want to explore other options.
One of those options is professional, ongoing help with credit counselors.
I've started to personally check out certain companies so I can recommend the
ones that are worth considering!
If you would like to speak with a representative from a...
Credit Card Cash Advance Pitfalls
by Curtis Arnold
Credit card cash advances can provide consumers with convenient and instant
access to "cold cash" in times of financial need, but cash advances
should be avoided if at all possible. Informed consumers realize that cash
advances are typically accompanied by fees and exorbitant interest rates (there
is also no grace period for cash advances). Moreover, cash advances can be a
major stumbling block for consumers seeking debt relief. We hope the following
tips help consumers avoid the pitfalls associated with cash advances...
The author(s), Press One Publishing, and DebtSmart.com shall have neither
liability nor responsibility to any person or entity with respect to any loss or
damage caused, or alleged to be caused, directly or indirectly by the
information contained in this email newsletter and/or at the DebtSmart.com web
site. The information, methods and techniques described may not work for you and
no recommendation is made to follow the same course of action. Every effort has
been made to verify the accuracy of all content contained herein. However, there
may be mistakes; typographical, mathematical, or in content. This email
newsletter and the DebtSmart.com web site have been created for your
entertainment only. You must always seek the proper professional advice before
taking any financial or legal action. You have been warned.
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cutting-edge strategies for
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highly recommend it."--Gerri
Detweiler, radio host and
author of The
Ultimate Credit Handbook
