Home > 2012 > Personal Finance > Credit.com in the News 6/2/12

Credit.com in the News 6/2/12

Advertiser Disclosure Comments 0 Comments

This week the experts from Credit.com talked to the media about the latest news in prepaid cards, underwater mortgages, credit cards and paying the debts of a deceased loved one. Check out the highlights …

Susan Tompor of the Detroit Free Press is no fan of extra fees, and she definitely doesn’t want her family paying them to use a prepaid card. Prepaid cards are gaining popularity with celebrity endorsements and younger consumers are getting easier access to them. Credit.com’s credit card expert Beverly Harzog points out that these cards are even being marketed to young professionals. @freep @BeverlyHarzog

Those who have underwater mortgages know too well that relief can be hard to come by. The government run program HARP was created to refinance mortgages, but fell way short of helping its targeted number of U.S. households. Now with the latest iteration, HARP 2.0, there’s hope for more progress. Gerri Detweiler talks to NYT’s Bucks Blog about how the program does help mortgage holders refinance, but not in great numbers. This is a case of a well intentioned government program that hasn’t translated to a real momentum of relief to borrowers — yet. @nytimes @gerridetweiler

Beverly Harzog talks about all things credit on WOOD Radio. She gives great advice on how to obtain the best card by considering where your credit is, what rewards make sense for you and what your credit goals are. She also warns against having too many store credit cards. When encountering a pushy sales person who tries to get you to sign up for a card you don’t want or haven’t read up on: Just say no! @woodradio

Check Your Credit For FreeGetting a credit card for the first time is something many of us view as part of becoming an adult. Parents who provide their children with credit should also provide financial education. Beverly Harzog points out that younger credit users don’t always know the consequences of their spending habits and how that can be a lifelong mistake. Building credit is an essential part of a strong financial profile, but there are very adult responsibilities that go along with it. Children should be prepared, mature and disciplined enough before their parents hand over that 16-digit card. Check out some good options for first-time credit cards here. @USNews @DanielBortz

Continuing the theme of educating the young on the pitfalls of credit, Beverly talks to Fox Business about five common credit report mistakes college students should avoid. She stresses that everyone should keep any document that could legally effect your credit score. Beverly also advises to review your credit report to make sure there aren’t any fraudulent accounts on them. Detecting fraud can help prevent further damage to your credit. @FoxBusiness @FoxBizMoney101

Getting saddled with the debt of a loved one who has recently passed can be hard to bear. Our debt expert Gerri Detweiler tackled the difficult topic of who pays the medical debt of the deceased. In the best cases Medicare and private insurance will cover the entirety of the medical bills, but others aren’t as lucky. Gerri explains that you have to examine all of the medical paperwork that was signed and to seek counsel from patients rights specialists in order to know where you stand. @njdotcom

Comments on articles and responses to those comments are not provided or commissioned by a bank advertiser. Responses have not been reviewed, approved or otherwise endorsed by a bank advertiser. It is not a bank advertiser's responsibility to ensure all posts and/or questions are answered.

Please note that our comments are moderated, so it may take a little time before you see them on the page. Thanks for your patience.

Certain credit cards and other financial products mentioned in this and other articles on Credit.com News & Advice may also be offered through Credit.com product pages, and Credit.com will be compensated if our users apply for and ultimately sign up for any of these cards or products. However, this relationship does not result in any preferential editorial treatment.