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August 7, 2009Credit card debt consolidation seems to be the buzzword in financial circles these days, given the fact that the economic crisis only seems to be getting worse. You see the ads on TV, radio, and the net. We keep hearing about the virtues of debt consolidation and how these programs not only help consolidate your debt, but also offer to reduce it. Seems too good to be true? Well, as a matter of fact, it often is. Read on to find out the truth behind credit card debt consolidation and reduction.
The Offer
Here is the rosy picture that is painted in front of a vulnerable customer who is unable to make the minimum payments on his credit cards by a credit card debt consolidation program.
The highly competitive nature of the credit industry makes for a treasure trove of sorts for many consumers. Banks and card companies jostle with each other and oftentimes try to outdo one another by offering seemingly outlandish rewards to reel in potential clients.
Most major card issuers offer consumers with different forms of reward credit cards. These particular cards are not just useful for purchasing products and services without cash. They also give cardholders several other benefits and advantages not commonly found with regular plastic.
For instance, some banks tie up with travel agencies and airline companies to offer travel points to cardholders.
Piggybacking has been a popular but underground part of the credit card industry for decades. It’s allowed consumers with poor credit to “piggyback” and borrow the credit score of someone with excellent credit, effectively allowing them to qualify for loans and credit they would not normally qualify for. Despite the common practice of piggybacking there are still many people that have never heard of it.
So what is piggybacking? The term refers to becoming an authorized user on someone’s credit card to borrow their credit history. The most legitimate form of piggybacking is when parents put their children on their credit cards as authorized users to give them a good start on their credit history. Unfortu
If you plan to apply for a college credit card, perhaps you may be thinking about getting a card that offers a reward program. This is fine as long as you can manage your credit card correctly. The first important step is to choose a reward program that matches your needs and your personal spending style. Today, let’s talk about the three basic reward programs offered for student credit cards.
Reward Programs to Choose From
Airline rewards student credit cards. An airline reward credit card offers the chance for a free travel. H
On this day in 1974, Philippe Petit, a French stuntman, walked across a tightrope strung between the two World Trade Center towers in New York City. He went between the towers not just once, but many times. You might have seen this infamous act performed in the recent documentary, “Man on Wire,” made about him.
In this stinkin’ economy, you may feel like you’re walking along a tightrope — financially shaky and just one small step from disaster.