Should credit cards be renamed debt cards?
957065
nope ( maybe we could change paycheck to temporary loan )
393510
Yes, for some credit situations, but only up to 2 years.  If you are getting a mortgage, discount the meds after 2 years.\nYour previous credit under your old name will apply to the new name for the 7 year limit.  Otherwise we'd have a booming business in name changes.\nMost (95% of) businesses report to bureaus so you better just consider that they ALL do.  You can use a company that assists with credit reports, applying to the debts the proper payment percentages, in which I am not an expert. (if u have a debt, only your payment which is a percentage of the debt, not the entire debt, should apply to the monthly picture.  Some payments are listed {or i use the word apply(ied)} to the debt to show your actual total amount of liability per month vs your total debt. The credit bureaus do not do this, they only report totals or if they do, this is where i've seen a lot of errors.) Credit Bureaus and their reporting clients are notorious for their selfish, in-accurate, inconsiderate, sometimes illegal errors.  You could say they do what they want until u or your representative catch them and demand a retraction or correction.  Ideal can stay on top of them for you.\nA private company is in a better position to assist you managing your credit reports thru the bureaus because that is their business, you will save money, enjoy a higher score and have more credit with a cleaner report.  The credit bureaus do send the reports to their client businesses, on request, so if those businesses receive cleaner reports, you are in a better position.  We all cannot be experts in everything. I will recommend a company whose owner I know and that allows me to refer them and say he and his staff are hard and accurate working people.  And they are inexpensive (half of the prices i've heard of).  The name of the corp. is IDEAL CREDIT SCORE and thay can be reached at 718 502 8800. They cover the entire US.  (by the way a Credit Union acts like a bank and loans money whereas a Credit Bureau reports debt.)
291642
Yup. because a credit  card is a credit card. lol but thats a good question
342626
If your debit card has the Visa or Mastercard logo on it, it works as a credit card too. If yours doesn't then talk to your bank and ask for a newer card, because these days almost all debit cards can be used just like a credit card.\n\nAMEX sometimes works as a credit card, sometimes not. It depends on if the merchant does business with AMEX. Same with Diners. The reason no one takes those cards any more is that all charge/credit cards (Visa, Amex, etc) make their money in part from fees they charge the merchant. Amex and Diners charge fees that are a LOT higher than Visa/MC. That's how they can stay in business and not charge the cardholder any interest.
767265
sounds like you should pay off your old credit card first!!
1055190
I think they need to CREATE a new name!
563137
I'm not sure, however, some will charge you interest just to keep the card open. In some cases the interest is compounded daily, thats why it is important to watch spending, and pay more than the amount due.
1080999
what dose that have to do with credit
520847
The credit card was the successor of a variety of merchant credit schemes. It was first used in the 1920s, in the United States, specifically to sell fuel to a growing number of automobile owners. In 1938 several companies started to accept each other's cards.\n\nThe concept of using a card for purchases was invented in 1887 by Edward Bellamy and described in his utopian novel Looking Backward. Bellamy uses the explicit term "Credit Card" 11 times in his novel (Chapters 9, 10, 11, 13, 25 and 26) and 3 times (Chapters 4, 8 and 19) in its sequel, Equality.\n\nThe concept of paying merchants using a card was invented in 1950 by Ralph Schneider and Frank X. McNamara in order to consolidate multiple cards. The Diners Club produced the first "general purpose" charge card, which is similar but required the entire bill to be paid with each statement; it was followed shortly thereafter by American Express. Western Union had begun issuing charge cards to its frequent customers in 1914.\n\nBank of America created the BankAmericard in 1958, a product which eventually evolved into the Visa system ("Chargex" also became Visa). MasterCard came to being in 1966 when a group of credit-issuing banks established MasterCharge. The fractured nature of the US banking system meant that credit cards became an effective way for those who were travelling around the country to, in effect, move their credit to places where they could not directly use their banking facilities.\n\nThere are now countless variations on the basic concept of revolving credit for individuals (as issued by banks and honored by a network of financial institutions), including organization-branded credit cards, corporate-user credit cards, store cards and so on.\n\nIn contrast, although having reached very high adoption levels in the US, Canada and the UK, it is important to note that many cultures were much more cash-oriented in the latter half of the twentieth century (Germany, France, Switzerland, among many others). In these places, the take-up of credit cards was initially much slower. It took until the 1990s to reach anything like the percentage market-penetration levels achieved in the US, Canada or UK. In many countries acceptance still remains poor as the use of a credit card system depends on the banking system being perceived as reliable.\n\nIn contrast because of the legislative framework surrounding banking system overdrafts, some countries, France in particular, were much faster to develop and adopt chip-based credit cards which are now seen as major anti-fraud credit devices.
637900
Rule #1:  Stay away from companies that promise to reduce your debt by thousands of dollars.  It will hurt your credit.  Look into finance counselors that can look at your income, expenses and debt and help you establish a plan and stick to it.  Debt consolidation is a good move in that it won't hurt your credit.  The risk is that you will have to pay an additional couple thousand dollars over the years for the convenience of the consolidation.  Again, credit/finance counselors are your best bet right now.
1159142
never heard of them but I recommend that you stay away from those jokers.... the best solution to all this debt settling is to make half your monthly payment twice a month... this cuts down on the exorbitant rates you get charged on your debt you have already accrued...
258061
There's several Non-Profit debt consolidation groups out there that will do this, but it completely kills your ability to obtain any new credit until the consolidation is totally paid off.  I've been credit card free for almost 8 years now and it feels great to never see a bill in my mailbox.\n\nDo your part to end pointless economic wars on yourself by financial institutions by becoming a balanced-budget person.
943838
The creditor will want you to personally be liable for the debt, so they'll use your social security number to review your credit report and determine your creditworthiness.  I believe creditors will consider opening the card in the business name if its well established, has proven income (read profit) history, and has its own business credit report, called a dunn & bradstreet report.  If you don't pay, they'll find a way to get you, don't worry!
538410
that's called a secured credit card
556013
A credit card are like a hammer. Use it properly, and you can do something useful, like drive a nail. Use it carelessly, and you’ll whack your thumb. Even a moment of inattention is enough to make a difference.
112594
Yes, it's one of the better choices, when trying to keep your credit rating good. Often, you end up paying less than you owe, or get a lower payment, that enables you to pay off the whole amount easier. It's better that you call them too, instead of waiting for them to find you (and find you they will!). I did that with a credit card and got my payments lowered to less than a third of what they were demanding. Of course, I told them it was either that or bankruptcy. They chose the reduced payment. And because of that, my credit score goes up every year that I keep up with my payments. And, I raise the payment by a couple of dollars every 6 months, showing that I'm making an attempt at paying it off quicker, which is something they like. All in all, you owe them money, so it just makes sense that you make whatever arrangements you can to pay it back. <*)))><
438062
credit card (noun)\n\nA plastic card having a magnetic strip, issued by a bank or business authorizing the holder to buy goods or services on credit. Also called charge card.\n\nA credit card system is a type of retail transaction settlement and credit system, named after the small plastic card issued to users of the system. A credit card is different from a debit card in that the credit card issuer lends the consumer money rather than having the money removed from an account. It is also different from a charge card (though this name is sometimes used by the public to describe credit cards) in that charge cards require that the balance be paid in full each month. In contrast, a credit card allows the consumer to 'revolve' their balance, at the cost of having interest charged. Most credit cards are the same shape and size, as specified by the ISO 7810 standard.