Netcredit

Are your Credit Card Rates Rocketing? I got one of those letters you tend to ignore the other day...a boring all legalese style thing from my credit card company. Two of them in fact. I was busy so it wound up in the inbox among the bills. A little voice told me that might be important so I finally opened one in a dull moment and read these words: "Thank you for your business"....with some more stuff about informing you of your consumer rights and protecting your credit.... and hidden halfway down in small type this letter informed me of my new interest rate just jumped over 10% higher. What gives? Congress recently passed a bill to curb consumer debt. That bill required Banks and Credit Card Companies to give 30 days notice in writing before they could raise our interest rates and they must have a 'reason'. The Credit Card companies told their friends in the House Financial Services Committee they could not possibly effect such a huge change and inform all their

Order your FREE credit report once a year: Online: http://www.annualcreditreport.com/ (or download a mail-in form) By phone: 877-322-8228 By mail: Annual Credit Report Request Service, P.O. Box 105281, Atlanta, GA 30348 NEVER order a credit report from a site that asks you for a credit card number before giving you a 'free report'. Several firms have been convicted of secretly charging credit monitoring fees.  The best known consumer site is http://www.myfico.com/ which is the Fair Isaac Company site (they invented credit scoring). This site has some useful credit comparison tools showing how credit scores affect interest rates which in turn affects your payments. A Tri-Merge (3 bureau) report costs about $50.00 on these sites. If you check your own credit, it does not affect your FICO score. Be aware, you do not need to sign up for regular credit check services unless you are concerned that someone has been abusing your identitiy. If you have experienced identity t