Filed under: Cards, Ripoffs and Scams

Bankrate.com has a credit score estimator provided by FairIsaac, the company responsible for calculating your credit score. Now before you run right over there to use the tool…. beware that I think this is just a gimmick to convince you to pay for your actual score. Don’t do that! They’re charging $15.95 or more, depending on the product you buy, and I think those products are a ripoff.

But if you want to get an idea of where your current credit score might fall, this is a good tool. I tried it out, and it was accurate. You could also use the tool to get an idea of where your score might fall if you make some improvements to your credit history.

The tool will ask you about your loans and credit cards: when you got your first one, what percent of your available credit has been used, whether you’ve delinquent payments. Again, this is a good tool to get an idea of where your credit score currently is. Just don’t get sucked into buying the products they’re offering.

Tracy L. Coenen, CPA, MBA, CFE performs fraud examinations and financial investigations for her company Sequence Inc. Forensic Bookkeeping, and is the author of Essentials of Corporate Fraud.

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ANZ takes a huge hit
News.com.au - THE banking sector faces a raft of earnings downgrades after ANZ revealed its first half-profit gains would be skittled by a $300 million provisioning blowout. In a disclosure that shocked investors, ANZ’s new chief executive Mike Smith yesterday

In Africa, Bush touts aid efforts, basks in popularity
Christian Science Monitor - When he makes a decision, he fulfills the mission,” states Baker Gasatura, a student at the School of Finance and Banking. Mr. Gasatura remembers Bush’s last visit to Africa in 2003, when the president launched PEPFAR, and takes this return

SocGen chairman Daniel Bouton pins hopes on alliance with French post
Times On the web - However, news of talks with La Banque Postale, the banking division of the state-owned postal service, met with scepticism from analysts and French government sources, who saw little chance of a deal. The initiative comes as Mr Bouton struggles to

Bernanke Turns 10-Year Notes Into Losers as Refinancing Surges
Bloomberg - More-expensive and less-available credit seems prone to continue to be a source of restraint,” Bernanke told the Senate Banking Committee on Feb. 14. The Fed “will act in a timely manner as needed to support growth and to provide adequate

Monday’s Agenda, Feb. 18
Miami Herald - Items contributed must be received at least two days in advance at Calendar Desk, The Miami Herald, 1 Herald Plaza, Fifth Floor Newsroom, Miami, FL 33132-1693. Or e-mail your items to newscalendar@MiamiHerald.com . No faxes, please. To search for

Clinton camp accuses Obama of plagiarism
Miami Herald - Democratic presidential hopeful, Sen. Barack Obama, D-Ill., makes remarks during a rally, Monday, Feb. 18, 2008, in Youngstown, Ohio. Top advisers to Hillary Rodham Clinton accused Democratic rival Barack Obama of plagiarism Monday, the latest effort

Lax banks blamed for defaults
Financial Times - Stability Forum - a committee of central bankers and supervisors - to begin a debate about possible measures to impose greater oversight on the industry in the future, and inject greater transparency and lender responsibility. The investment banking

Banking cheer sends FTSE rising
MSN UK News - Optimism ahead of results from the banking sector and a surprise rise in home prices helped the FTSE 100 Index surge by nearly 3%. Speculation of higher dividend payments from Barclays and Lloyds TSB this week saw the banks and their rivals dominate

Relief pitcher sleepers: Sherrill should win closer’s job
FOXSports.com - Those owners banking on a large year from the Blue Jays and Ryan need to circle back and add Accardo to their bench. Kerry Wood/Bob Howry, Chicago Cubs Lou Piniella advised that the winner of the Cubs closer slot will be decided roughly three-quarters

JPMorgan Asia Pacific Launches US$750 Million Expansion Into Private
Forbes - The business will benefit from JPMorgan’s global investment banking platform, sector expertise and research capabilities. The team will be the Asian arm of JPMorgan’s Private Equity Principal Investments business, which is headed by Mr. Bob Case in

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London shares - mid-morning features
CNBC - UBS ‘buy’ from ‘neutral’ Barratt Developments 388-3/4 up 19-3/4 Co rejects allegations that it is in danger of breaching banking covenants Rightmove 505 up 22 Comment in Saturday’s Independent; UK Feb house prices rise 3.2 pct Speedy Hire 811

Indian shares shut flat amid low volumes; Mahindra, Nalco gains
Forbes - Among 13 sectoral indices on the BSE 6 indices were marginally positive led by fast moving consumer goods, auto, banking and metals. TFN.newsdesk@thomson.com kbo/ssa COPYRIGHT Copyright Thomson Financial News Limited 2007. All rights reserved. The duplicating

Pakistanis vote amid fears of violence
Miami Herald - Pakistanis fearful of militant attacks voted Monday for a new parliament in a key step toward democracy after eight years of military rule under President Pervez Musharraf, whose political survival hangs in the balance. Polling got off to a sluggish

UPDATE 1-Bank of China states profit strong; subprime covered
Reuters - The Hong Kong-based South China Morning Post (SCMP) last month quoted banking sources as saying Bank of China was expected to make a large writedown on its investments in U.S. subprime related securities in the 2007 fourth quarter, dragging down its

Asian stocks mostly lower on US holiday; Australia hit by ANZ
Forbes - Asian stocks shut mostly lower in subdued trade Monday with Wall Street closed for a public holiday and Australia falling after the third-largest bank Australia and New Zealand Banking Group stated it would book losses on bad loans and exposure to a

Energy finds place in Florida sun
Miami Herald - Tire tracks lead up a grassy hill to a metal box that tells the tale of Florida’s first foray into commercialized solar energy. The box tracks energy output from the 1,200 solar panels atop an old landfill off Bee Ridge Road in eastern Sarasota

Some cancer patients turn to ‘coaches’
Miami Herald - The advice made her head spin: Have the lump removed. No, let them take the whole breast. Chemo? Radiation? Everyone seemed to have an opinion. “I just shut everyone down around me,” said Bernie Brann, a newly diagnosed cancer patient from upstate

Asian markets blended as Nikkei inches up, Hang Seng sinks on worries
International Herald Tribune - Australian shares also fell Monday, led by Australia and New Zealand Banking Group after the lender said it expects earnings this fiscal year to be crimped by fallout from the global credit crunch. But Chinese stocks jumped after the securities

Barclays, Lloyds Lead U.K. Banks Higher on Dividend Report
Bloomberg - Feb. 18 (Bloomberg) — Barclays Plc and Lloyds TSB Group Plc led U.K. banks higher in London trading after the Sunday Times reported the two banks will increase their dividends this week. Barclays advanced 5 percent to 448.75 pence at 9:41 a.m

IKB Plummets After Announcing 1.5 Billion-Euro Share Sale
Bloomberg - As expected, the time of free lunches is over,” Andreas Weese, an analyst at UniCredit Markets & Investment Banking in Munich, wrote in a report published this day. “The announcement means a strong dilution of the free-float shareholders.” UniCredit

UK’s Darling - N.Rock needs EU approval to operate
Reuters - Alistair Darling stated on Monday the conditions under which the newly-nationalized Northern Rock (NRK.L: Quote , Profile , Research ) bank now operates would have to be passed by the Euroepan Union to ensure there was no unfair competition in the banking

SocGen scandal due to many ’small mistakes’ in controls - BoF’s Noyer
Forbes - Regarding the 17 inspections carried out by France’s banking commission at SocGen during 2006/07, which found no irregularities, Noyer stated the regulatory checks showed SocGen ’seemed to have quite good models’. But he rejected responsibility for the

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