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Bank Robbery Growing In U.S.
Bank robbery has grown to become a huge problem in the United States but I am not talking about people robbing banks. I am talking about banks robbing people. Here are some tips on how you can avoid being ripped off by your bank. Banks want you to believe you need a credit card. The fact is millions of people get by very well without one. Contrary to popular opinion you can rent a car or check into a motel without one. You can use a bank debit card for the same purchases that you would make with a credit card, but there is no excessive interest charged. Read the Fine Print Credit card offers will often tease you with very attractive interest rates. They may offer zero percent interest for six months, or a very low rate. They may even tout these as fixed rates, not variable rates. But look out for additional terms in the fine print. You may find that if you are late on just one payment they can increase your interest rate, even on the fixed rate agreement. Your zero percent interest may suddenly become 25 to 30 percent or more. This interest will apply to purchases you have already made as well as future purchases. Look at Other Terms In addition to the interest charged, check the fees for late payments, going over your credit limit and other fees. Keep in mind the late fee is often assessed in a period of under 30 days. You may find your payment is due in only a week or twofrom when you receive it. I have personally caught a credit card company charging me for a late fee they received on time and posted late. I sent the payment by certified mail so I had proof of the time of receipt...otherwise they would not have reversed the fee they charged. Another thing to look at is the minimum payment amount. There have been instances where this was barely enough to cover the interest so the consumer never actually reduces his balance. Consider Credit Unions A credit union is a non-profit organization. It is owned by you - the members. They offer most of the same services banks offer, but with lower interest rates on loans, and higher interest rates on your savings. Try Paying With Cash If you carry a little more cash you will find checkout atstores is quicker and easier. You know exactly what you arepaying and there are no bank fees included. Some worry thatcarrying cash may subject you to robbery. One could argue on the other hand that keeping your money in the bank subjects youto having the bank rob you with unsuspected fees. In addition there is the very real threat that somebody might get hold of your banking information and you could become a victim of identity theft. It's very hard to steal someone's identity if they are doing business on a cash basis. Express Your Concerns To Congress Most states have usury laws which limit how much you can be charged in interest and late fees. Laws were passed in Congress in 1980 allowing national banks to ignore these laws, supposedly due to high inflation. Since we are not in a period of high inflation now, perhaps it's time for Congress to take another look at these laws. But they won't do it without your urging. For more information about state usury laws, I recommend a website which I found: http://www.lectlaw.com/files/ban02.htm Ron Coleman is a freelance cartoonist and writer living in Oakridge, Oregon. His work has appeared in hundreds of trade publications and newspapers, plus he continues to do work for clients on the internet. Today he is semi-retired. His work can be seen on his website:http://www.coleman-cartoons.com MORE RESOURCES:
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GOOGLE SEARCH Borrowing on a Credit Card One of the easiest ways to borrow money of a financial institute is to use a Credit Card, available from all banks, building societies, and other financial organisations. The choices available are enormous, with a wide variety of interest charges, annual charges, loyalty schemes, and bonus points available. Automobile Credit Report When applying for a loan to purchase a car, the lender will want to take a look at a person's auto credit report. Credit reports tell lenders all they need to know about granting a loan to all applicants. The Truth About Credit What you might not know about credit.Some people don't know about a loop hole in the credit reporting system. Identity Theft - Monitor Your Credit Report The recent security breach at credit card processor CardSystems Solutions has many consumers worried. Thanks to a well-placed computer virus, nearly forty million credit card numbers were stolen, and cardholders nationwide are justifiably concerned about identity theft. How To Choose A Credit Card Your credit score may just be a little number, but it packs a big punch. A poor credit score can keep you from getting a mortgage or a car loan. Debit Card vs. Credit Card, What Are The Differences ? Ah, the "good old days". If you are a baby boomer, like me, then you probably remember how important it was to rush to the bank on payday. What You Need to Know about Debt Negotiation on Credit Cards Debt negotiation on credit cards is often referred to as credit card debt settlement. Whenever you make a credit card payment- or even pay your utility bills- it usually gets reported to one- or all- of the three main credit agencies. Pitfalls of the Credit Industry The credit industry if rife with pitfalls. If you have ever owned a credit card you probably already have learned this the hard way. Reward Credit Cards: Get the Best Rewards Card Incentive Program A good credit reward card can contribute to your retirement account, offer gas rebates, score theme-park or vacation tickets or take thousands off theprice of your next auto purchase. Rewards at hotels, airlines, and retailers bring more to the possibilities but, adds to the confusion. Tackling Bad Credit The first time I heard the term credit history was when I approached a lender for a secured loan. Being a first timer I was completely ignorant of the procedure and didn't even know that a credit record of our transactions is prepared by some credit reference agencies. Credit Reporting: How Does It Work? In order to determine a consumer's credit worthiness, creditors and lending institutions have come to depend on credit reporting agencies. Credit reporting agencies supply individual reports that provide consumer specific information for lending purposes. Opting For A Credit Card? Check Out Certain Terms You've just received a "pre-approved" credit card offer in your mail. Without wasting a minute you're ready to accept it, especially if it's the "before-the-offer-expires" one. Credit Report Disaster Through Mistaken Identity I've got some very important info I want you to think very seriously about. I'm sure by now you've heard of Identity Theft,. Identity Theft - Who Would Want Mine? With all my bills who would possibly want my credit? Let them steal my identity and pay my bills! Unfortunately, that's not the way it works. Many of us mistakenly believe that identity thieves hit only the wealthy. Saving Money with Credit Cards Having a credit card is a wonderful convenience for those times when you don't have immediate access to your cash. It can allow you to purchase something on time for which you can pay later, thereby giving you the ability to afford something NOW that you'd have had to save for later. 10 Signs You May Need Credit Counseling Debt management programs can be of real help for people that discover they cannot face their debts. At first, they will attempt to solve the situation all by themselves by cutting down on spending and keeping a close eye on accounts. Like It Or Not, You Have A Score To Settle! Part 1 Just when most people finish with school and can stop worrying about test scores, there's a new kind of scoring that enters the picture. It's called credit scoring. How To Start A Second SEPERATE Credit File! Your personal credit file is separated from those with the same or similar names by several factors, including a driver's license number, birth date, or spouse's name. Although these are three important identifying marks, the number one identifying mark on your credit report is your social security number. Give Yourself Credit The Beginning of the Credit Card EraIn 1951, Diners Club issued the first credit card to 200 customers who could use it at 27 restaurants in New York City. From that modest beginning, credit cards have become an indispensable part of modern life. Good Credit Is Not A Good Reason To Borrow More Money After Youve Achieved Financial Freedom The most important thing for you to remember is that the only way you'll ever be able to achieve financial freedom is if you are able to avoid getting back into debt once you've paid off everything that you owe. It seems like a lot of the different websites that give advice regarding bad credit are not looking at this the right way. |
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