Dec 01
Bank of America on Monday announced that starting December 1, it will be sending out new, simplified credit card statements to 40 million current BofA cardholders. According to BofA, the new statements will contain a clear, simple one-page summary of the cardholder’s interest rates, fees, and payment information.
“Our goal is to communicate clearly and make it as simple and easy to understand as possible so that cardholders can use credit wisely,” said BofA Global Card Services President Ric Struthers.
While Bank of America claims the initiative as part of ongoing advances in the bank’s customer service, the new statements essentially just give BofA a head start on some of the changes card issuers are required to make under the new Credit CARD Act. By Febr
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Tags: Card Statements, Credit Card, Credit Card Statements, Statements
Dec 01
The PEX Visa Prepaid Card for Business is a tool for every company with employees in the field who need to make purchases with company dollars.
Using the PEX card and their own computer, employers can allocate specific funds to each employee, and even control where and how those funds are spent. You can, for instance, allocate a dollar amount per day for restaurant meals and a different dollar amount for gasoline. You can set daily spending limits and restrict use to authorized categories.
For employees on job sites, you can designate dollars for supplies, and in the case of unexpected expenses, send additional funds to the employee card in minutes – right from the comfort of your own computer.
Pricing is via a monthly fee, which is waived for the first two months. T Read more…
Tags: Business, Prepaid Card, Visa Prepaid, Visa Prepaid Card
Dec 01
These days it’s not a matter of “if” your credit score will drop but how far for so many Americans who continue to struggle just to stay above water.
As you would probably expect there are different tier levels based on the infraction. The tier is much different, for example, for an individual who simply misses a payment versus an individual who has a property fall into a foreclosure status.
Below is a list of common mistakes that affect your credit score in an adverse way and the point hit you can expect.
| Credit Mistake |
If your score is 680 |
If your score is 780 |
| Maxed-Out card |
Down 10 to 30pts |
Down 25 to 45pts |
| 30-day late payment |
Down 60 to 80pts |
Down 90 to 110pts |
| Debt Settlement |
Down 45 to 65pts |
Down 105 to 125pts |
| Foreclosure |
Down 85 to 105pts |
Down 140 to 160pts |
| Bankruptcy |
Down 130 to 150pts |
Down 220 to 240pts |
Do you know your credit score? Review
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Tags: Drop