Many credit counseling organizations are nonprofit and work with you to solve your financial problems. But beware — just because an organization says it is “nonprofit” doesn’t guarantee that its services are free or affordable, or that its services are legitimate.
Bank of America recently made an announcement that put credit card consumers and the rest of the industry on notice. It informed a small group of its credit cardholders that they will be charged an annual “membership” fee starting in February 2010.
When you are choosing a credit card, there are many features — and several kinds of cards — to consider: Fees, charges, interest rates, and benefits can vary among credit card issuers. As a result, some credit cards that look like a great deal at first glance may lose their appeal once you read the terms and conditions of use and calculate how the fees could affect your available credit.
As creditors tighten their standards – canceling underused accounts and lowering credit limits – it is now more important then ever to monitor your credit reports and scoring.