Bank finance articles and tips

If you're like most people, the last thing you want to deal with is credit harassment. Debt collection efforts by collection agencies have hit an all-time high for two reasons. First, many people are struggling to pay their bills since the downturn in the economy, and next, bill collection has become big business. In fact, collection companies in the U.S. now collect billions in overdue debt every year.

But those debt collection efforts can quickly become credit harassment if you're not careful. Here are five tips that will help you stay ahead of debt collection efforts....

The Credit CARD Act of 2009 that went into effect on February 22, 2010 provides the consumer more protection from the credit card companies....

Credit cards (as we know them today) were first introduced in 1958 in the USA by the Bank of America. The first outside the USA was the launch of Barclaycard in 1966 by Barclays bank. In 1967 a rival to the Bank of America System called Mastercharge was created and in the UK the Access credit card was first introduced in 1972 by a consortium of the other major UK banks. The Bank of America and Barclaycard payment systems have evolved into the Visa network, whilst Mastercharge and the Access brand have evolved into MasterCard. Any card issued in the UK today will usually include a Visa or MasterCard logo. The exception being cards issued by American Express which can only be used in establishments that accept their cards. There is a fourth smaller network in the USA called Discover....

Many people receive a poor credit score through no fault of their own. It's not as if they've deliberately or recklessly gone out to get one. The reason could be as simple as a deteriorating economy, job loss and a pile of bills - that's misfortune, not a crime. Most people want to pay their way more than anything else but find themselves in unfortunate circumstances where they just can't do it....

A bank secured credit card is a great tool for individuals that need to enhance their credit history or have no credit history and need to start creating one. Secured cards require an upfront cash deposit but you can actually earn interest while your money sits securely in a savings account. That savings account is the banker's guarantee that the money they lend to you will be paid back as agreed between you and the lender....

Most people don't realize how bad credit can affect their ability to obtain the things they need to enjoy life. In our present world, good credit is a necessity, not a luxury. If you have negative credit record such as late payments, charge offs, judgment, bankruptcy, repossession or past due medical bills, you will find it difficult to get things like loans, credit cards and even apartments. Some employers even require you to have a good credit rating before they can hire you. That's why you need to repair your credit if you have negative items on your record....