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Showing posts with label bad credit cards. Show all posts
Showing posts with label bad credit cards. Show all posts
Thursday, March 26, 2015
Poor Credit? How To Get Approved For Bad Credit Credit Cards
If you have bad credit, you know just how hard it can be to get approved building credit for a credit card. To make matters worse, with each turn down you are lowering your credit score and making your credit worse! That’s when you should look for sub prime credit cards that cater to people with less than perfect credit.
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Sunday, March 9, 2014
Secured Credit Card Can Help Your Credit Score
Tuesday, June 19, 2012
Discover Financial Q2 Profit Slips, But Lending Rises
Discover Financial Services (DFS) said before the market opened that second-quarter profit was down a bit from the same quarter last year as it set aside more money to cover bad debts, but roughly in line with analyst projections.
Investors ignored the profit miss and bid shares up as much as 3% early amid a broad market rally, partly in reaction to rising hopes the Federal Reserve will agree to extend stimulus measures to bolster the U.S. economy as Europe remains mired in debt crisis. The Fed's regular meeting is scheduled for Tuesday and Wednesday.
Discover shares rose 2.7% to 33.74 in afternoon trading.
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Investors ignored the profit miss and bid shares up as much as 3% early amid a broad market rally, partly in reaction to rising hopes the Federal Reserve will agree to extend stimulus measures to bolster the U.S. economy as Europe remains mired in debt crisis. The Fed's regular meeting is scheduled for Tuesday and Wednesday.
Discover shares rose 2.7% to 33.74 in afternoon trading.
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Wednesday, June 13, 2012
How to Start Building Your Credit
Acquiring a secured credit card is a solid option for those people who are attempting to rebuild their credit or begin from scratch. You don’t need very good credit at all to obtain one of these cards, which explains why so many people decide to use them to acquire their credit standing back on track. These cards can be valuable tools when it comes to building credit, and you should consider you get one knowing that you're going to need to borrow money in time. Most people do not think that they will have to have an optimistic credit score in the near future, however, you will need to have solid credit to acquire an auto or house anytime in the future. Even if you are just looking to rent an apartment, you are going to have to have a fairly decent credit score. Here are three reasons as to why a secured card might be a perfect choice for you:
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Read more about Secured Credit Card - How to Start Building Your Credit
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Thursday, May 31, 2012
Ex-Senator Edwards acquitted on campaign finance charge
(Reuters) - Former U.S. Senator John Edwards was acquitted on Thursday on one count of accepting illegal campaign contributions, and the judge declared a mistrial on five other counts because the jury was deadlocked.
The jury's decision came on the ninth day of deliberations and marked yet another dramatic turn of events for the one-time politician who rose to become the Democratic Party's vice presidential nominee in 2004, only to see his career ruined by scandal four years later.
As the jury's verdict was read, Edwards, who did not testify in the nearly six-week-long trial, slumped back in his seat in relief.
Later, standing in front of the federal courthouse in Greensboro, North Carolina, the state he represented in the U.S. Senate from 1999 to 2005, Edwards said he never broke the law.
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The jury's decision came on the ninth day of deliberations and marked yet another dramatic turn of events for the one-time politician who rose to become the Democratic Party's vice presidential nominee in 2004, only to see his career ruined by scandal four years later.
As the jury's verdict was read, Edwards, who did not testify in the nearly six-week-long trial, slumped back in his seat in relief.
Later, standing in front of the federal courthouse in Greensboro, North Carolina, the state he represented in the U.S. Senate from 1999 to 2005, Edwards said he never broke the law.
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Wednesday, May 30, 2012
Lenders finally loosen up on car loans
It's finally getting easier to get a car loan. Experian Automotive just announced that the average credit scores required for consumers to buy a vehicle have dropped to near prerecession levels.
The average credit score for financing a new vehicle dropped six points to 760, and dropped four points to 659 for used vehicles. By contrast, credit scores required in the first quarter of 2008 were at an average of 753 for new vehicles and 653 for used.
Experian's analysis also showed the average amount financed on new vehicles rose by $589 in the first quarter, to $25,995. For used vehicles, the average amount financed increased by $411, bringing the average total to $17,050.
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The average credit score for financing a new vehicle dropped six points to 760, and dropped four points to 659 for used vehicles. By contrast, credit scores required in the first quarter of 2008 were at an average of 753 for new vehicles and 653 for used.
Experian's analysis also showed the average amount financed on new vehicles rose by $589 in the first quarter, to $25,995. For used vehicles, the average amount financed increased by $411, bringing the average total to $17,050.
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Tuesday, May 8, 2012
U.S. Ex-Im Bank, nearing House vote, OKs $2.95 billion loan
(Reuters) - The U.S. Export-Import Bank said on Tuesday it has approved a $2.95 billion loan to support U.S. exports for a major natural gas project in Australia, as lawmakers neared a vote on renewing the bank's charter through September 2014.
Bank officials said the direct loan for the Australian natural gas project will help support an estimated 11,000 U.S. jobs and is the second-largest single-project financing in the institution's nearly 80-year history.
Leaders in the House of Representatives reached a deal on Friday to keep the bank operating past May 31, when its current charter expires.
The bill is headed to the House floor on Wednesday under an expedited procedure that requires a two-third vote for approval. Leaders rarely place a bill on the so-called suspension calendar unless they are confident it has enough support.
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Thursday, May 3, 2012
Freddie Mac posts profit, but needs $19 million in aid
WASHINGTON (Reuters) - Freddie Mac , the No. 2 provider of U.S. mortgage money, said on Thursday it will seek another $19 million in taxpayer aid after its quarterly profit failed to make up for a dividend payment to the government for its controlling stake.
The company has now drawn $72.3 billion from the U.S. Treasury since being seized by the government in 2008, and has returned $18.3 billion as the price for the taxpayer support.
It warned it was unlikely to generate enough profit to cover the dividend payments any time soon. The company's latest aid request compared to $146 million needed to stay afloat in the prior quarter.
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Tuesday, April 24, 2012
Obama talks low loan rates in pitch to college students
CHAPEL HILL, N.C. – President Obama kicked off a two-day, three-stop tour of college campuses Tuesday with soaring speeches on student loan interest rates that quickly veered into an all-out appeal for students' support.
His likely Republican opponent in November, Mitt Romney, didn't wait for the president's visit here to make his own appeal to young people and to charge that Obama had failed them.
The give-and-take was typical of a fledgling general election campaign in which neither side allows an issue or a charge to go without an instant response. And it highlighted what will certainly be a crucial battleground in the fall for the hearts and minds of young people.
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Thursday, April 19, 2012
Bank of America earns $653M in first quarter
NEW YORK – Bank of America said Thursday that it set aside less money to cover bad loans in the first three months of the year than it has since before the 2008 financial crisis.
The bank said it earned $653 million in the first quarter, or 3 cents per share. That included an accounting charge of 28 cents per share because the value of debt held by Bank of America (BAC) rose.
Without the accounting charge, Bank of America beat the estimate of 9 cents by Wall Street analysts polled by FactSet, a provider of financial data. The stock climbed in premarket trading.
Banks have to record an accounting charge when the value of their debt rises on the open market because it would cost the banks more in theory to buy back that debt.
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Thursday, April 12, 2012
Rate on 30-year fixed mortgage falls to 3.88%
WASHINGTON – The average rate on the 30-year fixed mortgage dropped near its all-time low this week, making home-buying and refinancing a bargain for those who can qualify.
Mortgage buyer Freddie Mac said Thursday that the rate on the 30-year loan fell to 3.88% from 3.98%. That's just above the rate of 3.87% reached in February, the lowest since long-term mortgages began in the 1950s.
The 15-year mortgage, a popular option for refinancing, plunged to a fresh low of 3.11% from 3.21% last week. The previous record of 3.13% was hit last month.
Mortgage rates are lower because they tend to track the yield on the 10-year Treasury note. Last week's disappointing report on March job growth led more investors to sell stocks and buy Treasurys, which are considered safer investments. As demand for Treasurys increases, the yield falls.
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Mortgage buyer Freddie Mac said Thursday that the rate on the 30-year loan fell to 3.88% from 3.98%. That's just above the rate of 3.87% reached in February, the lowest since long-term mortgages began in the 1950s.
The 15-year mortgage, a popular option for refinancing, plunged to a fresh low of 3.11% from 3.21% last week. The previous record of 3.13% was hit last month.
Mortgage rates are lower because they tend to track the yield on the 10-year Treasury note. Last week's disappointing report on March job growth led more investors to sell stocks and buy Treasurys, which are considered safer investments. As demand for Treasurys increases, the yield falls.
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Tuesday, April 10, 2012
Federal regulator may allow loan principal reductions
WASHINGTON – The federal regulator who oversees Fannie Mae and Freddie Mac is softening his position against allowing the mortgage giants to reduce the principal owed for U.S. homeowers at risk of foreclosure.
Edward DeMarco, acting director of the Federal Housing Finance Agency, said in a speech Tuesday that the agency is considering whether to allow Fannie and Freddie to offer principal reductions. That's a subtle shift from his firm opposition to the concept.
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Edward DeMarco, acting director of the Federal Housing Finance Agency, said in a speech Tuesday that the agency is considering whether to allow Fannie and Freddie to offer principal reductions. That's a subtle shift from his firm opposition to the concept.
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Wednesday, March 28, 2012
Geithner makes case for reducing homeowner loans
(Reuters) - Treasury Secretary Timothy Geithner on Wednesday rebuffed a housing regulator's concerns that allowing mortgage buyers Fannie Mae and Freddie Mac to reduce homeowners' mortgages would only protect the big banks.
"There are some cases where principal reduction is not just good for the homeowner, not just good for the community, but it's good for the taxpayer too," Geithner told a congressional panel.
The Obama administration has been trying to use government resources to help the U.S. housing market. But it has faced resistance from the regulator for Fannie Mae and Freddie Mac, the Federal Housing Finance Agency's acting director Edward DeMarco.
DeMarco has maintained that his regulator's mission is to protect the taxpayer money that was used to prop up the mortgage buyers after massive losses at the companies threatened the global financial system.
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"There are some cases where principal reduction is not just good for the homeowner, not just good for the community, but it's good for the taxpayer too," Geithner told a congressional panel.
The Obama administration has been trying to use government resources to help the U.S. housing market. But it has faced resistance from the regulator for Fannie Mae and Freddie Mac, the Federal Housing Finance Agency's acting director Edward DeMarco.
DeMarco has maintained that his regulator's mission is to protect the taxpayer money that was used to prop up the mortgage buyers after massive losses at the companies threatened the global financial system.
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Sunday, March 25, 2012
Obama tells US troops at Korean DMZ: 'You guys are at freedom's frontier'
SEOUL -- President Barack Obama was greeted with cheers from U.S. troops as he visited the dining hall at Camp Bonifas at the start of his tour of the Demilitarized Zone on the Korean peninsula and told them that they were protecting "freedom's frontier."
Obama talked about how proud he was of the troops and joked about the NCAA basketball tournament. While, the president has visited the Republic of Korea twice before, this was his first time observing the 38th parallel and members of North Korea’s military.
At Camp Bonifas, Obama told U.S. troops that they are part of a "long line" of soldiers who have enabled South Korea to prosper. "You guys are at freedom's frontier," he said.
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Obama talked about how proud he was of the troops and joked about the NCAA basketball tournament. While, the president has visited the Republic of Korea twice before, this was his first time observing the 38th parallel and members of North Korea’s military.
At Camp Bonifas, Obama told U.S. troops that they are part of a "long line" of soldiers who have enabled South Korea to prosper. "You guys are at freedom's frontier," he said.
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Tuesday, March 20, 2012
Openbucks Named Best-In-Category Winner in Sixth Annual Paybefore Awards
LAS VEGAS, March 20, 2012 -- /PRNewswire/ -- Today Openbucks (www.openbucks.com), the "Gift Card Payment Network", announces that it was selected as the Best Prepaid Gaming Card Program by a panel of prepaid industry experts at the 2012 Paybefore Awards. The Paybefore Awards, which capped off day one of the Prepaid Expo USA, is the most prestigious recognition of excellence in the worldwide prepaid and stored value industry. The awards are presented annually by Paybefore, whose publications are the leading source of industry information for the global prepaid community.
"Teens along with 25 percent of U.S. households have very limited access to credit cards and therefore cannot pay for goods online," said Marc Rochman, CEO of Openbucks. "To solve this issue, we have partnered with retailers such as Subway, CVS Pharmacy and Circle-K to provide consumers who don't have credit cards or prefer not to use them, with a way to buy and pay for games and other digital services online. We are proud to be recognized as the best-in-category for Prepaid Gaming Card Programs, especially as our fellow nominees, Ultimate Game Card from Playspan/Visa, Playstation Network Prepaid Card from Sony and Incomm, are such great products."
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"Teens along with 25 percent of U.S. households have very limited access to credit cards and therefore cannot pay for goods online," said Marc Rochman, CEO of Openbucks. "To solve this issue, we have partnered with retailers such as Subway, CVS Pharmacy and Circle-K to provide consumers who don't have credit cards or prefer not to use them, with a way to buy and pay for games and other digital services online. We are proud to be recognized as the best-in-category for Prepaid Gaming Card Programs, especially as our fellow nominees, Ultimate Game Card from Playspan/Visa, Playstation Network Prepaid Card from Sony and Incomm, are such great products."
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Monday, March 19, 2012
Some struggling homeowners more equal than others
Not all distressed home loan borrowers will benefit equally from the $25 billion national mortgage settlement filed in federal court last week.
Part of the settlement requires the five leading mortgage servicers to forgive at least $10 billion in principal that homeowners owe on mortgages. That will help underwater borrowers who owe more on their mortgages than their homes are worth. But the level of principal reduction they get may well depend on who owns their loan.
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Part of the settlement requires the five leading mortgage servicers to forgive at least $10 billion in principal that homeowners owe on mortgages. That will help underwater borrowers who owe more on their mortgages than their homes are worth. But the level of principal reduction they get may well depend on who owns their loan.
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Sunday, March 18, 2012
Banks' loan changes will vary under mortgage settlement
Not all distressed home loan borrowers will benefit equally from the $25 billion national mortgage settlement filed in federal court last week.
Part of the settlement requires the five leading mortgage servicers to forgive at least $10 billion in principal that homeowners owe on mortgages. That will help underwater borrowers who owe more on their mortgages than their homes are worth. But the level of principal reduction they get may well depend on who owns their loan.
Some Bank of America borrowers will see their principal cut to the point where they will not be underwater.
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Part of the settlement requires the five leading mortgage servicers to forgive at least $10 billion in principal that homeowners owe on mortgages. That will help underwater borrowers who owe more on their mortgages than their homes are worth. But the level of principal reduction they get may well depend on who owns their loan.
Some Bank of America borrowers will see their principal cut to the point where they will not be underwater.
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Thursday, March 8, 2012
USA TODAY Review: Republican lawmakers backed U.S. energy loans
WASHINGTON - Republican members of Congress investigating federal loan guarantees to now-bankrupt energy companies told Energy Secretary Steven Chu last week that they never asked him to speed up similar projects in their states.
But that's exactly what some did, according to a review of 484 congressional support letters obtained by USA TODAY. Some letters, for example, urged quick approval of a $2 billion loan guarantee for the American Centrifuge, a uranium enrichment project projected to create hundreds of jobs in states including Ohio, Pennsylvania and Tennessee.
"It is imperative that this application move forward now," said a letter signed by five members of Congress, including Rep. Joe Pitts, R-Pa.
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But that's exactly what some did, according to a review of 484 congressional support letters obtained by USA TODAY. Some letters, for example, urged quick approval of a $2 billion loan guarantee for the American Centrifuge, a uranium enrichment project projected to create hundreds of jobs in states including Ohio, Pennsylvania and Tennessee.
"It is imperative that this application move forward now," said a letter signed by five members of Congress, including Rep. Joe Pitts, R-Pa.
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Tuesday, February 28, 2012
UPDATE 1-U.S. housing secretary says FHA faces big risks
* FHA faces risks even with latest cash raising-Donovan
* Safeguarding FHA capital could help private market grow
Feb 28 (Reuters) - The U.S. Federal Housing Administration faces "considerable risks" to its finances and the Obama administration will continue to scale back the agency's presence in the mortgage market, the top U.S. housing official said on Tuesday.
Housing and Urban Development Secretary Shaun Donovan told Congress that efforts to protect the FHA's dwindling capital reserves were not only important in their own right, but that they could open the door to more private mortgage funding.
"Despite the unprecedented efforts of the (Obama) administration to alter the trajectory of FHA, considerable risks remain," he told the Senate Banking Committee.
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* Safeguarding FHA capital could help private market grow
Feb 28 (Reuters) - The U.S. Federal Housing Administration faces "considerable risks" to its finances and the Obama administration will continue to scale back the agency's presence in the mortgage market, the top U.S. housing official said on Tuesday.
Housing and Urban Development Secretary Shaun Donovan told Congress that efforts to protect the FHA's dwindling capital reserves were not only important in their own right, but that they could open the door to more private mortgage funding.
"Despite the unprecedented efforts of the (Obama) administration to alter the trajectory of FHA, considerable risks remain," he told the Senate Banking Committee.
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Monday, February 27, 2012
FHA hikes mortgage fees to bolster reserves
(Reuters) - The cost of government-insured credit will increase slightly for U.S. homebuyers, as the Federal Housing Administration on Monday said it would raise up-front fees on the mortgages it insures to shore up its dwindling reserves.
The premiums FHA charges to insure mortgages will rise by 75 basis points, or 0.75 percentage point, on most 30-year loans, acting Commissioner Carol Galante told reporters on a conference call. The higher premium will apply to loans taken out after April 1.
The changes, which will raise about $1.25 billion for the FHA, will be wrapped into the overall cost of mortgages to dampen the impact on borrowers, she said.
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The premiums FHA charges to insure mortgages will rise by 75 basis points, or 0.75 percentage point, on most 30-year loans, acting Commissioner Carol Galante told reporters on a conference call. The higher premium will apply to loans taken out after April 1.
The changes, which will raise about $1.25 billion for the FHA, will be wrapped into the overall cost of mortgages to dampen the impact on borrowers, she said.
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