Credit Guide

Card Consolidation Credit Debt By Dave Porter

Yes. FACTA (the Fair and Accurate Credit Transactions Act) lets consumers get one free credit report a year from each of the three national credit reporting companies. To obtain that free report, you must go to www.annualcreditreport.com. What is a 3 bureau credit report A 3 bureau credit report lists all of your credit from all three national credit reporting agencies (Experian, Equifax, and TransUnion). 1 credit reports or 3 agency credit reports.

Credit Union A new law to protect consumers from credit fraud became effective Wednesday which gives people the right to get a free copy of their credit report annually.If you would like to receive late breaking news on stocks covered by AXcess News then you need to subscribe. By joining, you can stay ahead of the pack and receive the latest news in your email in-box first.Print This Page

Under The Fair Credit Reporting Act (FCRA), consumers have a right to a free credit report on themselves in certain circumstances.

Merchant Credit Guide Co Dec 2, 2004 (AXcess News) Washington - A new law to protect consumers from credit fraud became effective Wednesday which gives people the right to get a free copy of their credit report annually.

If you've ever applied for a job, charge account, insurance, or loan, there is a credit file about you. This credit file contains information on where you live and work, how you pay your bills, and whether you've been sued, arrested, or filed for bankruptcy. Recent amendments to the Fair Credit Reporting Act (FCRA) have given consumers new power to fix errors found on their credit reports. The amendments, which became effective September 30, 1997, were designed to better ensure the accuracy and privacy of the information contained in consumer or credit reports.

Apply Online For Credit Card Called the Fair and Accurate Credit Transactions Act of 2003 (FACTA), the new law amends the Fair Credit Reporting Act (FCRA). Thirteen western states have begun offering consumers free reports as of December 1.Credit fraud has become rampant and the FTC pushed FACTA through in the hopes that consumers would have better access to their credit information to thwart potential theft of personal information. The rollout of FACTA will take until Sept 1 2005 to complete the FTC said. Consumers are being provided access for their free report through the web site, www.annualcreditreport.com."This new legal right gives consumers an important tool for protecting their identity and keeping track of their credit," said Lydia Parnes, acting director of the FTC's Bureau of Consumer Protection. "This is the only Web site from which consumers are legally entitled to receive a free annual credit report, said Parnes."The growth in credit and debt card use is partially to blame for the rise in identity theft. Last month, AXcess News reported on the Check 21 act which permits the immediate withdrawal of funds from checking accounts (See, "Debit Card Use Rising, Fueled by Newer

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Credit Repair Debit and credit card use is rising and with it comes the problem of managing those transactions securely, which has spawned new industry providers who must not only manage transactions for issuers and merchants alike, they now have to fulfill security demands as well.Morgan Beaumont, Inc. (OTCBB: MBEU) is one of those new providers and since first mentioned in last month's story, the Sarasota Florida-based software company has caught the eye of Merrick bank in Utah. Merrick provides credit card services to over 550,000 customers nationwide. MBEU inked a deal with the bank to issue Merrick Debit and Stored Value cards for use with Morgan's proprietary POS software and national cash loading network. Roll out will begin in December 2004.The deal gave Morgan Beaumont a MasterCard Third Party Processor designation, which according to MBEU CEO Cliff Wildes will open new doors for their software platform's market.

Active Credit Credit Guide Monday, Morgan Beaumont announced the rollout of 250,000 of its card programs to retail load locations with IPrepay Inc., a subsidiary of Radiant Holdings and a leading issuer of prepaid products and services. IPrepay will utilize Morgan's POS software and national cash loading network to offer Stored Value and Debit Cards to IPrepay's prepaid calling card customers.Last month also the big bank era of dominating credit card issuance tumble when American Express (NYSE: AXP) filed a law suit in the Supreme Court against Visa, Mastercard and eight major bank partners (See, "Visa and Master Card Sued for Antitrust Violations") for antitrust violations.

Credit Score Because of the court rulings, U.S. banks will be able to develop and offer card products that will be processed on any of the competing merchant networks, ending what was a monopoly controlled by Visa and Mastercard.Capital One (NYSE: COF) and Providian National Bank (NYSE: PVN), two of the largest credit card issuers in the USA were named in that suit.

Bad Car Credit Guide Loan With the court's ruling in favor of American Express, companies like Morgan Beaumont may become more viable for those lenders who want to offer more credit card services.

Bad Credit Loan Shares of micro cap, Morgan Beaumont, have climbed 100% since first covered by AXcess News last month when it closed at $0.46. Morgan Beaumont closed Wednesday at $.86, up 5 cents, or 6.17%, on volume of 663,784 shares.American Express closed at $56.45, up 74 cents. Capital One closed at $79.30, up 72 cents and Providian closed at $16.08, up 3 cents.

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