Comments on: How Credit Card Companies And Credit Repair Firms Deceive Consumers http://www.moolanomy.com/1708/how-credit-card-companies-and-credit-repair-firms-deceive-consumers/ Personal Finance. Investing. Wealth Building. Sat, 20 Mar 2010 18:13:48 +0000 http://wordpress.org/?v=2.9.2 hourly 1 By: Mark http://www.moolanomy.com/1708/how-credit-card-companies-and-credit-repair-firms-deceive-consumers/comment-page-1/#comment-22691 Mark Tue, 28 Jul 2009 01:07:47 +0000 http://www.moolanomy.com/?p=1708#comment-22691 Very Good Information! There is so much BS out on the net that I appreciate when someone brings good info to light for people who are trying to navigate the shark infested waters of credit! I even put a post on my blog to this very article... http://www.crushingthecreditbureaus.com/blog/how-credit-card-companies-deceive-consumers.html Keep up the good work! Mark Very Good Information! There is so much BS out on the net that I appreciate when someone brings good info to light for people who are trying to navigate the shark infested waters of credit!

I even put a post on my blog to this very article… http://www.crushingthecreditbu.....umers.html

Keep up the good work!

Mark

]]> By: Weekly Wisdom in Personal Finance - 2nd Edition | Debt Free Adventure! http://www.moolanomy.com/1708/how-credit-card-companies-and-credit-repair-firms-deceive-consumers/comment-page-1/#comment-22319 Weekly Wisdom in Personal Finance - 2nd Edition | Debt Free Adventure! Sat, 11 Jul 2009 20:12:05 +0000 http://www.moolanomy.com/?p=1708#comment-22319 [...] How Credit Card Companies And Credit Repair Firms Deceive Consumers - by Pinyo of Moolanomy Pinyo reminds us that, “In the credit card world, scam operators are taking money from innocent customers without adding value, misrepresenting claims and simply performing shoddy service.”  He goes on to encourage us by offering up a few excellent ways avoid being susceptible to such scams. [...] [...] How Credit Card Companies And Credit Repair Firms Deceive Consumers – by Pinyo of Moolanomy Pinyo reminds us that, “In the credit card world, scam operators are taking money from innocent customers without adding value, misrepresenting claims and simply performing shoddy service.”  He goes on to encourage us by offering up a few excellent ways avoid being susceptible to such scams. [...]

]]> By: Weekend Reading Greats – Semi-Bachelor Edition http://www.moolanomy.com/1708/how-credit-card-companies-and-credit-repair-firms-deceive-consumers/comment-page-1/#comment-22300 Weekend Reading Greats – Semi-Bachelor Edition Fri, 10 Jul 2009 14:08:49 +0000 http://www.moolanomy.com/?p=1708#comment-22300 [...] Moolanomy explains how credit card companies deceive consumers. [...] [...] Moolanomy explains how credit card companies deceive consumers. [...]

]]> By: Michelle http://www.moolanomy.com/1708/how-credit-card-companies-and-credit-repair-firms-deceive-consumers/comment-page-1/#comment-22242 Michelle Tue, 07 Jul 2009 14:13:02 +0000 http://www.moolanomy.com/?p=1708#comment-22242 Great article - and the old adage is correct for these scam companies : If it sounds too good to be true, it IS. Unfortunately, we humans are prone to look for the easy-way-out and can rationalize our choices to 'believe' or 'trust' in our own logic/judgment thinking that these kinds of scams aren't going to happen to us! The companies in the FTC complaint are the most egregious violators - there are other companies (like Orchard Bank, a division of HSBC) who used to charge 'account maintenance fees' that would equate to $240 dollars/year - essentially just for the service of reporting to the credit bureau...But wait! To weakonomist's point regarding name-brand banks - that's the same thing Chase tried to do to its customers last fall until one of the states' atty gen. stepped up and helped put an end to that practice... Great article – and the old adage is correct for these scam companies : If it sounds too good to be true, it IS. Unfortunately, we humans are prone to look for the easy-way-out and can rationalize our choices to ‘believe’ or ‘trust’ in our own logic/judgment thinking that these kinds of scams aren’t going to happen to us! The companies in the FTC complaint are the most egregious violators – there are other companies (like Orchard Bank, a division of HSBC) who used to charge ‘account maintenance fees’ that would equate to $240 dollars/year – essentially just for the service of reporting to the credit bureau…But wait! To weakonomist’s point regarding name-brand banks – that’s the same thing Chase tried to do to its customers last fall until one of the states’ atty gen. stepped up and helped put an end to that practice…

]]> By: the weakonomist http://www.moolanomy.com/1708/how-credit-card-companies-and-credit-repair-firms-deceive-consumers/comment-page-1/#comment-22237 the weakonomist Tue, 07 Jul 2009 11:59:20 +0000 http://www.moolanomy.com/?p=1708#comment-22237 This may be the more conservative approach to this system but a good rule of thumb is to simply only get credit cards from companies backed by a bank you've heard of. Chase, Citi, BofA, etc... These banks have too much to lose to try and employ these kinds of deceptive practices on a regular basis. If you can't get approved for a card at one of these places then it is likely that you should not have a credit card right now. Not everyone will do this of course so I'm thankful for the FTC protecting the little guy. This may be the more conservative approach to this system but a good rule of thumb is to simply only get credit cards from companies backed by a bank you’ve heard of. Chase, Citi, BofA, etc…

These banks have too much to lose to try and employ these kinds of deceptive practices on a regular basis. If you can’t get approved for a card at one of these places then it is likely that you should not have a credit card right now.

Not everyone will do this of course so I’m thankful for the FTC protecting the little guy.

]]> By: Julie http://www.moolanomy.com/1708/how-credit-card-companies-and-credit-repair-firms-deceive-consumers/comment-page-1/#comment-22231 Julie Tue, 07 Jul 2009 10:18:50 +0000 http://www.moolanomy.com/?p=1708#comment-22231 Very informative article. An alternative to using your credit card to cover instant expenses is to take a short-term loan. Very informative article. An alternative to using your credit card to cover instant expenses is to take a short-term loan.

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