July 28th, 2010
Wednesday Trends in Credit Cards & Debt
Did credit card reform really do any good? More than a year since the passing of the CARD Act in May 2009, news media and blogs weigh the good and the bad.
MSN Money points out that while the CARD Act was intended to prevent many of the costly, damaging credit card practices that affected consumers last year, these rates and fees continue in 2010– just to a lesser degree. The Digerati Life blog writes, “I hate to say it, but it looks like Congress did a fairly good job of curbing historical abuses and preventing future unfair practices without resorting to draconian price controls.” Bucks blog at the New York Times stays middle-of-the-road, pointing out that while reform has stopped many of the industry’s “deceptive” or “unfair” practices, issuers are still engaging in others.
Maybe it’s not so much a matter of whether the credit card reform did any good, but whether it did enough good?
What do you think? Has the CARD Act reforms met your expectations of better, safer, and fairer credit cards for consumers?
Today’s roundup offers interesting and helpful information for credit cardholders and consumers digging their way out of debt. Read our favorite posts on these topics from news and blogs and enjoy!
July 7th, 2010
Should You Go All Cash Or All Plastic? The Perks And Precautions
Going Cashless Once upon a time, cash was ubiquitous amongst common folk and “charging it” was reserved for the rich, fancy-pants type. Now, most Americans are paying less by paper and coin and more often in credit card, debit card, online transaction, and even up-and-coming mobile phone payments.July 1st, 2010
5 Step Check-Up On Your Finances
Today, new legislation regarding debit cards kicks in and customers now have to opt-in and agree to overdraft policies rather than be automatically enrolled in the bank’s program. This is a good reminder to check your own bank’s overdraft policies and, if you want to be covered by overdraft, to enroll in it now.
We put together a short list of other financial areas in need of a check-up, just to keep up with the changing landscape of money and banking. If you find yourself spending more time thinking through any of these points, it’s a good indication you need to delve a little deeper and focus on that aspect of your finances. Now, get ready to start checking off:
June 23rd, 2010
Want MORE Cash Back? One Company Is Listening…
While credit card perks are getting slashed and debit cards and checking accounts face looming fees, the start-up Perk Street Financial will soon be offering the irresistible upgrade to double their debit card’s cash back program to 2% cash back on every dollar of debit card purchases the cardholder signs for. If you’re looking for a great rewards debit card, you might have found it.
June 11th, 2010
Are You Ready To Share Your Spending Habits, Twitter-style?
First there was Blippy, now there is Swipely. What otherwise sounds like names for cute, furry creatures are actually sophisticated social shopping websites that allows users to share their online shopping habits with their online community. Joining the social ranks of Twitter and Facebook, Blippy and Swipely aren’t just about sharing every little mundane purchase. Both websites are premised on the engagement and value of what you bought, where you bought it, and what you thought about it…and the bigger idea that other people will be interested too.
May 12th, 2010
Wednesday Trends in Credit Cards & Debt
Wall Street can’t seem to figure it out.
Investigations into the last Thursday’s historic yet mysterious stock market plunge, which dropped the Dow Jones industrial average nearly 1,000 points in one day, hasn’t come up with much of an explanation into what happened. Some speculate it was a large, erroneous trade– the so-called “fat finger” scenario, or that the Greek debt crisis caused ripple effect panic in the American market, or a technical computer glitch started the chain of events that led to the biggest single-day drop in Wall Street history.
It is likely a combination of unusual factors, but its ultimate cause remains a mystery. A federal subcommittee continues to investigate and explore ways to safeguard Wall Street against any such future malfunction or mistaken trade that could trigger another devastating plunge.
Staying educated and aware of your own personal finances is your best safeguard against any financial disaster. Why not start right here with today’s roundup on credit cards news and debt help?
April 30th, 2010
Plan Your Vacation And Keep Your Personal Finances Intact, Part 2
Part 2 of 3: Protecting Your Credit
Now that you’ve budgeted and built your piggybank for your trip to Disneyland or trek through Delhi in Part 1: Stay Out of Debt, preparing for vacation takes more than just packing sunblock. Protecting your wallet and credit is a crucial step that many travelers make an afterthought. Don’t fall victim to credit card bill shock or an empty bank account when you get home. Take every step to secure your finances while you are on vacation.
A big question for jet-setting travelers: cash or plastic? There are benefits and risks with both, so here’s a breakdown of how to take the right steps with both.
April 28th, 2010
Do You Know Your Bank’s Overdraft Policy?
Have you noticed significant changes to your bank’s overdraft policy recently? This July, new regulations are ending the common banking practice of automatically enrolling customers in getoverdraft policies that have long been under fire for steep fees and lack of transparency. Soon, customers will have to intentionally enroll in overdraft policies in order for the bank to cover them in the case of insufficient funds on their checking account.
It’s a step in the right direction to put the power of banking in the consumer’s hands. Know and understand your bank’s policies; some customers want overdraft protection so their card won’t get declined, especially in the case of an emergency purchase. Other customers don’t want to be charged a $35 overdraft fee for overdrawing on a $3 cup of coffee.
April 14th, 2010
Wednesday Trends in Credit Cards & Debt
Consumer behavior shows recession is over!, says a recent headline, but are we truly no longer in the red? Aside from the usual tell-tale signs of economic recovery like market improvements, interest rates, dollar value, or stocks, the recent boost in consumer confidence is a more tangible reflection of optimism and hope in recovery.
Consumer spending is gaining at a faster pace than expected and the savings rate has started to decline, indicating increased confidence and a public mindset that things are finally starting to turn around. Consumer confidence can lift economic activity faster than forecasts, even as unemployment remains high and tight credit continues to be a headwind for spending, reports CNN Money, which is good news for future growth.
Speaking of consumer spending, check out the following helpful articles and be savvy about your credit cards and on top of your debt.
March 31st, 2010
Wednesday Trends in Credit Cards & Debt
Personal spending by consumers rose 0.3%, or $34.7 billion, in the month of February while personal income was virtually unchanged, reports CNN Money. This marks the 5th straight month that personal spending rose even though personal income has not risen. Analysts keep a close watch on personal spending and income figures because consumer spending accounts for two-thirds of U.S economic activity. The data shows that while the economy is on the slow track to recovery, consumers are still under pressure to make ends meet without increases in personal income.
Get your dose of healthy spending habits with the roundup’s credit card information and debt reduction help.
