| 5 ways how misuse of balance transfer credit cards can cost you dearly
0 Intro APR credit cards are used by many people to avoid high interest rates on outstanding balances. As soon as the 0 Intro period expires - they find another credit card with 0 intro offer or low interest offer on balance transfer and switch balances. In the short term it might look as a good strategy, but it has its own drawbacks. Here are few facts, which if overlooked can cost the credit card holder dearly. The credit card companies might stop approving such applications when they find that the applicant has a sustained history of balance transfer misuse. Lenders like people who pay them interest, that's the main source of their income. So, if the find that when it comes to repaying your debt with interest, you simply cut corners and transfer the balance to a new credit card. They won't be interested lending to you.
Your Credit History Could Be Worth Thousands: The Loophole That ...
Disclaimer: I always have a difficult choice on whether to report these loopholes because even if they may technically be legal, they certainly are an abuse of the intended law. I do not recommend that people participate on either side of this scheme to raise poor credit scores. That being said, it does exist and I try to pass along to people information of what is going on in all areas of personal finance. There are a growing number of companies on the Internet that claim they have found the perfect loophole that allows them to boost the credit scores of those with bad credit without breaking the law. They are able to do this by exploiting a common way that children first gain a credit history - piggybacking upon someone (usually a parent) that has good credit by becoming an "authorized user" of the person with a good credit history.
To fix immigration bill, look in its nooks and crannies
Beware legislative behemoths. Beware "comprehensive immigration reform." Any bill that is 380 pages long is bound to have nooks and crannies reflecting private deals, quiet paybacks and ad hoc arrangements that you often don't learn about until it's too late. The main provisions of the immigration reform monster are well known. But how many knew, before reading last Saturday's Washington Post, that if Einstein were trying to get a green card, he would have to get in line with Argentine plumbers and Taiwanese accountants to qualify under the new "point system" that gives credit for such things as English proficiency and reliable work history? Good thing Albert was a patent office clerk, and that grooming isn't part of the new point system. Until now we've had a special category for highly skilled, world-renowned and indispensable talent.
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