Dental Surgery Funding
by Scott Bilker
Hi Scott, I need some very expensive dental surgery and work. I was wondering if you could suggest a strategy/strategies to fund this $8,500 expenditure over a two year period interest free. I have an excellent credit score (800+). I know that during the process, I can shop for balance transfer offers; however, I'd prefer to find a card with 0% on purchases for 24 months or do a series of transactions to perform the equivalent. Bob R.
Living above my means for years--what now?
by Scott Bilker
I've been living above my means for years, using credit cards to pay for the difference from what I make and what I spend. I can't be denial much longer as the cards are getting to their max. I currently don’t' have any past due payments since I still use the credit cards to offset what I can't pay. What do you recommend I do?
Capital One, and other, banks’ tactics that might shock you
by Scott Bilker
I called myself to try and keep the account open and, for the most part, the banks are not agreeing. They tell me that, "these decisions are in response to the current credit crisis." Gee, I'm thinking that, "huh, the banks blew it to the tune of $300 billion because of bad decision making and now, they're next move is to close the accounts of they're profitable, and potentially profitable customers." Yeah, that's a good move--duh! What are they thinking! Talk about cutting your nose off.
Debt smart credit card rules adopted by federal regulators
by Scott Bilker
I can't believe it! It appears that we consumers have received a major holiday gift this season.Government regulators adopted sweeping new rules for the credit card industry. Finally, rules that protect consumers! This is certainly a time for celebration, because it's the first time in decades that consumers have received protection from some of the most terrible practices of these banks. I am excited, however, these rules don't go into effect until July 2010. My only fear is that the banks will figure out a way to get around these changes by that time.
Rate jacked-up to 21.99 percent
by Scott Bilker
Last week my Bank of America American Express card took a major rate increase. I had a fixed 7.99% rate which I enjoyed for two years. I carried a high balance on this card because I purchased a nice motorcycle with it two years ago. My rate went from 7.99% up to 21.99%. No late payments to them or anybody else.
Household Math™: How Much House
by Scott Bilker
Sandy finds a bank willing to give her a 30-year, fixed-rate mortgage. They require her to give a 20% down payment on the purchase of her home. The interest rate (APR) is 8.4%, and she must pay 1.5 points, which will be rolled into the mortgage. After property taxes, PMI, etc., Sandy can afford $1,500 per month on the mortgage payment. What is the maximum price of the home that she can purchase?
Paying back only 19 cents on the dollar
by Scott Bilker
I’ve helped people do these negotiations and I’ve help teach other how to do it themselves. Nothing makes my day more than receiving the success stories of those that have read my book and saving a bundle on their own! This one is great…
3 Bank Deception Stories
by Scott Bilker
Below are three stories of bank deceptions submitted by email newsletter readers. Thanks to all for your feedback about my Chase story. However, keep in mind that we need to use the banks against each other. That means you don’t want to close your accounts. Transferring your balances is the best revenge!
Household Math™: Working for Gas
by Scott Bilker
You work full time. That's five days per week (8 hours per day). The commute to work is 100 miles (round trip) each day. You average 25 miles per gallon. Fuel costs $4.05 per gallon. How much of your net hourly pay goes to fueling your car?
Book Review: "How You Can Profit From Credit Cards," by Curtis Arnold
by Scott Bilker
Curtis Arnold is not only a contributor to DebtSmart.com but also a contributor to consumer awareness. He's the founder of U.S. Citizens for Fair Credit Card Terms, Inc. and CardRatings.com. Curtis has been helping people save money money by promoting financial education since 1998. His latest project is his first book, How You Can Profit From Credit Cards: Using Credit to Improve Your Financial Life and Bottom Line, and as you may guess, I loved the book! The book has been available at Amazon.com since its release date of 6/22/08.
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