March 17th, 2010
Wednesday Trends in Credit Cards & Debt
How much are miles and gift cards from rewards credit cards worth to you? For one currently jobless, 46-year-old former executive, its proven to be a unique life vest. Jim Kennedy, who went from a six figure salary to homeless in a matter of months, has been using his built-up stash of over a million frequent-flier miles and rewards points to hop from hotel-to-hotel and cash in miles for anything from food, gasoline, to even a haircut. He drives around in a leased BMW and budgets his food to under $5 a day, and strategically uses his credit card rewards to stretch the few dollars he has, reports CNBC. Talk about maximizing a rewards program for more than just vacations!
Get your share of credit cards news and debt tips to be smart about your money, so you won’t be forced to redeem your rewards for rent, with today’s helpful roundup.
Credit Card News
- New credit law clamps down on campus activity, reports MSNBC.
- Find your perfect 0% APR balance transfer card for 15 months, blogs CashMoneyLife, to help pay off your existing credit card balances without extra interest.
- SmartMoney gives tips to use gently-used gift cards to help you save money.
- For those of you planning to travel soon, make sure you’re aware of the real cost of using a credit card overseas, brought to you by Foreigner’s Finances.
- Frugal Dad blog issues a huge warning to never pay credit cards before mortgage.
Debt News
- Do it Yourself Debt Settlement! Credit Card Debt Relief blog offers step-by-step instructions on how to dig yourself out of debt without a credit counselor or debt settlement agency.
- Consumers not making dent in debt, reports MSNBC.
- We don’t often say it, but debt can get really boring! DebtKid speaks some truth on how to deal with, and stay motivated, through the debt slog.
- Ask Mr Credit Card shows you how to use credit cards to create a debt repayment plan.
- Get motivated on getting rid of debt with these thought-provoking quotes about debt from Steadfast Finances. My favorite: Today, there are three kinds of people: the have’s, the have-not’s, and the have-not-paid-for-what-they-have’s.“
Related posts:
- Wednesday Trends in Credit Cards & Debt One major issuer didn’t get away from consumer watchdogs this time, and paid a pretty hefty price. A judge ordered...
- Wednesday Trends in Credit Cards & Debt With a credit card, overspending is as easy as swiping one too many times and finding yourself knee-deep in debt...
- Wednesday Trends in Credit Cards & Debt Big banks may be getting the biggest backlash yet: general public anger over taxpayer bailouts, big bonuses for bankers, and...
- Wednesday Trends in Credit Cards & Debt “The CARD Act finally protects consumers against the credit card industry’s most abusive practices: Yes AND no,” writes The Washington...
- Wednesday Trends in Credit Cards & Debt Americans are finally getting on top of their finances, MintLife’s infographic explains, as average debt went down 14.3% and average...
