28
Apr
2008
Secret Credit Bureaus You Don’t Know About, But They Know About You
Posted by Steve Rhode as Banking, Credit Report, Credit Score, Debt Collection, Gambling, Identity Theft, Mortgage Related
If you're new here, you may want to subscribe to my RSS feed right now, before you forget, to get the latest posts. Thanks for visiting! So let me tell you a story about secret credit bureaus that you don’t know about. Most of us have some knowledge about the three major credit bureaus ...[Read More]
13
Apr
2008
Emotional Misfortune and Why It Makes Debt Hurt So Much
Posted by Steve Rhode as Banking, Business Failures, Consumer Debt, Debt Confessions, Foreclosure, Gambling, Get Out of Debt, Mental Health, Suicide
In 1989 and 1990 my financial life swirled the bowl and went down the toilet, resulting in my personal bankruptcy. My shame and my disgrace, which I kept silent and my secret until 2000 when I got outed by a Washington Post reporter when she asked me, only in passing, during an interview if I ...[Read More]
31
Mar
2008
It’s Clear. Banks Come First. UK Consumers Come Last.
Posted by Steve Rhode as Banking
Okay Chancellor Alistair Darling, you’ve got me stumped. How is manipulating the IVA market to exclude and block consumers from equal access to an IVA not as important as a little sub-prime loan fiasco? Just a few days ago Darling announced that the Financial Services Authority (FSA) would ...[Read More]
31
Mar
2008
10,739 Expected to Lose Jobs in UK Financial Services Industry
Posted by Steve Rhode as Banking, Business Failures
Forecasts out today are predicting dark days ahead for London’s banking and financial services sector. It is estimated that upwards of 10,000-11,000 jobs will be lost by employees of banks, building societies and insurance companies. This comes as a direct result of the invasive and ...[Read More]
29
Mar
2008
Citibank Staff Incompetence Costs Me $1,000 and Leaves My Wife Stranded for a Weekend in Philly
Posted by Steve Rhode as Banking
I debated about sharing this story with you but upon reflection it is a good example about what is missing in American banking today, commonsense and customer service. A Citigroup news release out a few hours ago announced a new boss of the U.S. consumer retail banking operations. NEW YORK ...[Read More]
26
Mar
2008
Citigroup Credit Card Boss Breaks Some Eggs. Gets Shown Door.
Posted by Steve Rhode as Banking, Business Failures, Credit Cards
Not that long ago I wrote about how Egg bank in the U.K., a part of Citigroup, had kicked 161,000 cardholders to the curb and terminated their credit cards. For many the only crime they were guilty of was paying thei credit cards in full and not making Egg more money. As even an unborn child ...[Read More]
14
Mar
2008
My Debit Card Was Cloned. Is It True I Won’t Get My Money Back?
Posted by Steve Rhode as Ask Steve, Banking, Debit Cards
Tanya asks: Hi, I want to ask a question. My debit card was cloned at a bank machine in Latin America despite my greatest effort to hide my PIN when i put it in and a substantial amount of money was taken from my account before I realized. I immediately cancelled the card, should i recieve my ...[Read More]
06
Mar
2008
200 Banks to Fail and Go Out of Business in U.S.
Posted by Steve Rhode as Banking
Bank failures have been a thing of the past in the U.S. Sure there has been the odd bank failure here and there but not a run like the Savings and Loan crisis of late 1980s when 206 banks closed their doors. While for many the S&L crisis is ancient history, just like a lot of history, ...[Read More]
06
Mar
2008
Banks Charges and Bank Fees You’re Paying While Your Bank Ignores Federal Law
Posted by Steve Rhode as Banking, Debit Cards
In the United States federal law dictates that banks should provide consumers with information about fees on savings and checking accounts. However according to a report released recently by the Government Accountability Office this is not happening. The report also reveals that some of the ...[Read More]
04
Mar
2008
LTV - 3 Letters You Need to Be Aware of If You Want a Mortgage
Posted by Steve Rhode as Banking, Mortgage Related
More UK banks are being forced to tighten their belts following the fallout from bad investing in the US subprime mortgage market and fear that lax lending standards could have brought problems elsewhere – including the UK. The warning came as Bank of England figures showed the number ...[Read More]
03
Mar
2008
Take Advantage of 0% Credit Card Balance Transfers or Get Taken Advantage Of, Your Choice
Posted by Steve Rhode as Banking, Credit Cards
Millions of consumers every year take advantage of 0% balance transfer and purchase credit card deals as a way of cutting debt and getting back on the financial straight and narrow. By the end of the January it was estimated that 1m people transferred their credit card balance to a new ...[Read More]
29
Feb
2008
Are You a Closet Stoozer and 0% Credit Card Rate Tart?
Posted by Steve Rhode as Banking, Credit Cards
Stoozing, derived from the verb stooz, is a slang term used to describe the act of borrowing money at 0% (typically on credit cards), putting the money in a high interest account, and paying it back before the 0% period ends. It is important to note that the borrower does not typically have a ...[Read More]
28
Feb
2008
Tricks Banks Use to Screw You Out of Fees You Don’t Need to Pay
Posted by Steve Rhode as Banking
Why do people hate their banks? Well, it’s almost always because of what are called “stealth fees.” These fees occur when a customer overdraws their account – either at an ATM or through a debit card purchase – without being warned that their account has ...[Read More]
26
Feb
2008
Your Credit Card Limits May Be Cut While You’re Asleep
Posted by Steve Rhode as Banking, Credit Cards, Credit Score
In a disturbing trend out of the United Kingdom, credit card customers in the UK with a spotlessly clean credit histories are being targeted and seeing their limits cut to £100 of their existing balance thereby curbing their spending limits by thousands of pounds. Credit card firms have ...[Read More]
25
Feb
2008
Four Reasons Why Your Bank WILL Make a Profit Off of You
Posted by Steve Rhode as Banking, Credit Cards, Economy
I’m writing this article at 40,000 feet above Canada as I fly back to the UK from the US. It is no longer surprising that consumers in these countries and all other market economies that enjoy the benefits of consumer credit are at a significant disadvantage of achieving a healthy ...[Read More]
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