John McCain’s Economic Plan
by John McCain
It’s getting close to the time we have to choose a new President. How they plan to deal with credit card banks and their lending practices needs to be part of their platform. John McCain doesn’t specifically address those issues in detail right now, however, he does present this economic plan...
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.
Switching heads and bodies
by Scott Bilker
Have you heard this one? A graphic designer working on a high school yearbook mixed the heads and bodies of students. The yearbook company said that it was an honest mistake. They said the high school required them to make heads the same size and eyes at the same level in all photos. This is a case where digital switching didn’t turn out to be profitable because they had to pay to reprint all the yearbooks. So what does this have to do with your credit cards?
Getting Rid of Annual Fees
by Scott Bilker
I'd like to get rid of the annual fee, so I tried calling them and asked them to waive it. I used your technique and said that I would cancel it if they did not, and they didn't budge. What do you think? Should I keep the card and pay the $60 per year? Should I cancel the card completely because I don't technically need it? Or should I ask them to give me a new card with no annual fee, which would retain the 28K in available credit, but which would remove my 18 year relationship with that account?
Government launches crackdown on unfair credit cards
by Federal Reserve
The Federal Reserve Board proposed rules to prohibit unfair practices regarding credit cards and overdraft services that would, among other provisions, protect consumers from unexpected increases in the rate charged on pre-existing credit card balances. The rules also would forbid banks from imposing interest charges using the two-cycle billing method, would require that consumers receive a reasonable amount of time to make their credit card payments, and would prohibit the use of payment allocation methods that unfairly maximize interest charges.
Cloned credit cards are stealing you
by ABC News
Crooks can easily copy the information from the magnetic strip of your credit card. It is a simple process to take that stolen data and create another credit card--a clone card. The cloned card functions exactly like the original card allowing thieves to buy what they want or empty your bank account. Watch this ABC news video to see exactly how easy this is to do and why you need to be extremely careful when letting others handle your cards.
Capital One's Brilliance
by Scott Bilker
Like all of Capital One's customers, I was hit with an interest rate hike from 9.9% (purchases and advances) to 15.4% and 22.9% respectively. I didn't see the 'notification' they sent in the mail (I assumed it was some sort of solicitation), so it caught me by surprise. I contacted them and asked if they could adjust the rate back to what it was. My husband and I have perfect credit, never a day late and did carry a balance (we used the card for all purchases so we could get the frequent flyer miles but we never let the balance get out of control).
Stop Eating Your Way Into Debt!
by Jill Cooper
At this time of year, there are usually three things people are panicking about: how to lose weight, how to save money, and how to get organized. We have already touched on losing weight so this week I would like to touch on saving money. Hopefully most of you realize that you can get into deep debt if you buy a house or a car you can't afford. That seems to be pretty obvious, although a lot of people do it anyway.
Accidentally late indeed
by Art Blanchet
I had the same issue arise recently--was running short on time (my card gives me essentially a weekend to get the payoff--we don't keep a balance) to get my check in the mail. No way the bill just sits here a few days--we gotta move on it! Anyway, this one sat a few says and I needed to send it--destination was about 200 miles away major city to major city--but I still USPSed it registered mail requiring a signature confirmation of delivery.
Debit vs. Credit
by Stacy Johnson
More reasons why you should choose your credit card over your debit card. 2006 was the fist year that saw debit card purchases topped the 1 trillion dollar mark. But when you head to the store, which kind of plastic is best...debit or credit? According to money reporter Stacy Johnson, it's a question of interest.
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