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Credit Card Myths

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If you are looking for a fast, free and accurate web-site to track your credit score than creditkarma.com is for you. I have been using credit karma for a couple of years now. It shows your current credit score through TransUnion and Equifax, 2 out of 3 of the major credit reporting agencies. Apart from showing you your credit score and being free, it also give you recommendations on credit cards, personal loans, car loans all based on your credit score. It also has debt solutions which can help you create a plan to manage your debt. These services are very detailed and ask for some personal information to give you the best results, finding you the lowest interest rate with affordable payments. This web-site also offers community …show more content…

This article shows four myths and bust them. The first myth is that making the minimum payment is enough. It is not you should pay off your cards in full each month so you do not incur interest. If you can't pay the full amount paying more then the minimum will allow you to pay off your debts faster, saving you in the long run. The second myth is that 0 percent introductory APR lasts forever. Again false, it is an introductory rate, which is a promotion to lure you into applying for credit. The 0 percent last only as long as the contract says, typically 6-18 months. Myth number 3 is "opening a new credit will hurt your credit score for a long time." When you apply for a new credit card it results in a hard inquiry, which may drop your credit score a few points, but in the long run the more credit you have will increase your score, as long as you keep up with your payments and keep your balance low. The last myth is that you must carry a balance in order to improve your credit score. I myself thought this when i first got my first credit card, but i learned that no you don't. Having a balance will just add to the amount of interest, which can add up and potentially lower your score if your balance becomes to

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191 Words | 1 Pages

What happens when your son or daughter is a college freshman? “Getting Carded” by David Migoya tells the readers what exactly happens when your children come to college. “More than fifty-eight percent of college students said they saw credit-card marketers on campus for two or more days at the beginning of the semester, and eighty-seven percent of all students say they have a card, according to the U.S. Public Interest Research Group.” Credit cards are not a bad thing, but if used carelessly it can ruin your children’s future. “The worst problems come from overspending or maxing out credit limits—which typically are kept low to start—but from the fees associated with late payments or interest rates.”

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1388 Words | 6 Pages

The Industrial Revolution was a prosperous time for the western civilizations beginning in 1760 and ending between 1840 and 1860. The invention of railroads began in England, but was brought to the United States in the early 1800’s. In 1815, Colonel John Stevens got the first railroad charter with New Jersey Railroad Company, although a single train track was not laid until 1832 (www.american-rails.com/railroad-history.html). Therefore, the Baltimore and Ohio Railroad Company built the first railroad in 1827. The machine was purchased from the Stephenson Works in England.

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462 Words | 2 Pages

With these new installment plans people were buying more unnecessary expensive things. Like, buying a 35,000 boat instead of the 10,000 when they work the exact same but the 35,000 has a few more details. But because, these people were on installment plans the

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524 Words | 3 Pages

It’s very interesting and immeasurable to know how much credit unions/firms have been working tirelessly to see that the world becomes a better place to live this is through their various services offer to its members such as giving out loans with very low interest rates, giving free online services to ensure that all their clients access their services freely, offering mortgages loan that helps their clients achieve their dreams and free account seeking and with this I would like to reflect on the mission statement of the America First Credit Union a massive growing entity that has done so well since it’s foundation in making sure that its members enjoy financial freedom through their effortless struggle to give low-interest loans, free

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721 Words | 3 Pages

The U.S. Supreme Court Case Regents of the University of California v. Allan Bakke was officially decided June 28, 1978. The case addressed the issue of use of affirmative action in university admissions processes. Affirmative action, also referred to as positive discrimination, was a result of the Civil Rights Movement of the 1960s, and was intended to ensure equal entry to educational institutions or employment entities to certain groups that “have historically suffered invidious discrimination” (Janda et al., 477). However, sometimes this method causes discrimination of other groups, through establishment of racial quotas. University of California employed the process of affirmative action and instituted racial quotas in its admissions

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863 Words | 4 Pages

As we read “A Lifetime of Student Debt? Not Likely” we learn that the title is correct if student loans are used wisely. Many don’t pay attention to the debt they are building. Whether it is important for them to go to a certain school, or to always be partying, students will quickly use all the money they have. For some reason, when they find out how much they owe, they are shocked.

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203 Words | 1 Pages

In the article “Debt Education: Bad for the Young, Bad for America”, Jeffrey J. Williams explains the damage student debt causes past and present college students. Williams argued that more than half of the college students and their families are in debt from having to make such large payments toward the rising costs of colleges. Though, Williams also states a higher degree or education will lead to a high income and all around better jobs, the risk of being unemployed after college is too great. This is considered to be good for individuals, as it will maximize their economic potential. It is also good for society as a whole as people are getting better education, and rising to greater expectations in the world.

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Pros and Cons of the Fair Tax Act If you've experienced filing and paying taxes taxes, you know how confusing and how much of a hassle it can be. Many people don't only complain about the complex process, they also express that wealthy persons and families, businesses, and special interest groups pay less tax than they're supposed to due to certain exemptions and loopholes. Because of these frustrations, the Fair Tax Act is gaining a strong following. This plan aims to replace the federal tax income system with a flat national sales tax. Supporters of the plan believe this would help to evenly spread the tax burden, get rid of loopholes, and take away the hassle of collecting taxes without affecting federal tax revenues.

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205 Words | 1 Pages

Columnist Scott Gilmore brings to light the operations of payday loan companies and the impact that they have on society. Although the payday loan companies seem to take advantage of the financially vulnerable members of society, perhaps the true fault lies within the education of society. A devastatingly large portion of society seeks out payday loans, and the results are appalling. As mentioned by Gilmore in the article, “[A correlation was found] between the number of payday lenders in a neighborhood and premature mortality”. This reveals a lot regarding the repercussions of seeking out loans that in turn create greater loans.

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Secondly, your interest rate will definitely be lower due to two simple reasons; first, you can negotiate a fixed

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948 Words | 4 Pages

The Credit Card Industry?s Role in Causing Student Debt, author, Carlos Macias, warns his audience that credit card companies will try anything and everything to get students to own a credit card from their company. Macias states that college students have a huge target on their back when it comes to credit

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1987 Words | 8 Pages

It also offers a maximum capitalization of 10% interest over the loan that was taken out. That means a student loan balance will never go past their original balance

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1032 Words | 5 Pages

Although debt is a bad thing, it is not unavoidable for everyone. People will fall into debt because not everyone has a solid financial backing. More than seventy-one percent of students graduating from a four year college are graduating with debt (A Look at...) . Setting a cap would cutthat percent far down so the students would have a chance to break even with the income they receive after college. Because there is no student loan debt cap, colleges take advantage of this or they set the cap very high so the students will keep having to pay the college for years.

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Paying for the first two years of college leads to more debt for not only yourself, but the college that you choose as well. In America, 70% of college students are in debt. To be more specific we are currently $1.2 trillion in student debt. The reason being is because college is just simply to expensive.

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1008 Words | 5 Pages

Numerologist.com Review Product Description: If you’re contemplating picking up a numerology report, that means you believe in it to some extent. People who are cynical about life usually do not turn to numerology or astrology. However, even for those who believe, it’s important to pick the correct numerology site to get reports from. The internet is littered with dodgy and unreliable numerology sites that are all out to fleece desperate people.

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